About this Course

This programme provides an overview on the application of fair value measurements for non-financial items, its accounting techniques and disclosures that are applicable to various FRSs. It also provides an analysis of current developments by IASB in fair value measurement guidance.

Programme Outline 

Basics of Fair Value Accounting:

• Double entry system for fair value accounting
  
• Handling gains and losses arising from fair value changes
  
• Circumstances where fair value accounting may not be appropriate
  

Applying Fair Value Accounting in FRSs:

• Deferred settlement terms
  
• Applicable to: Inventories; Property, plant and equipment; Investment property; Intangible assets
  
• The difference between ‘fair value model’ and ‘revaluation model’
  
• Reporting changes of fair value (gain or loss) in ‘profit or loss’; or in ‘other comprehensive income’
  
• The relationship between ‘cost’ and ‘fair value’ at initial recognition
  
• Applying Fair Value accounting in FRS 103: Business Combinations
  

              - Determining valuation date and its impact

              - Deferred consideration

              - Fair value of separable assets acquired liabilities assumes

• Applying Fair Value accounting in FRS 18: Revenue
  

              - Determining fair value of consideration receive or receivable

• Applying Fair Value accounting in FRS 20: Accounting for Government Grants and Disclosure of Government Assistance
  

              - Accounting for loans from government with a below-market rate of interest

              - Accounting for non monetary government grant— using fair value or nominal value

Intended For

A Foundation to Intermediate level programme suitable for Practicing and Non Practicing Accountants and Auditing Professionals. Those who are interested to learn more about applying fair value measurements for non-financial items are welcome to attend.

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