by admin | Jan 7, 2018 | Accounting, Tech News
ASC has issued Amendments to the following Singapore financial reporting standards (FRSs) on 29 December 2017: FRS 109 Financial Instruments: The amendments deal with the transition requirements for prepayment features with negative compensation. FRS 28 Investments in...
by admin | Jan 5, 2018 | Accounting, Tech News
The Accounting and Corporate Regulatory Authority (ACRA) has established the Financial Reporting Surveillance Programme (“FRSP”) to guide companies to meet the requirements in the prescribed accounting standards in Singapore for their financial reporting. ACRA has...
by admin | Jan 3, 2018 | Accounting, Income Tax, Tech News
OVERVIEW OF FRS 39 Classifications of financial instruments (a) FRS 39 has 4 clearly defined categories of financial assets: (a) Financial assets at fair value through profit or loss; – Held for trading; – Designated as at fair value through profit or...
by admin | Jan 3, 2018 | Accounting, Income Tax, Tech News
Accounting for Financial Instruments The accounting treatment for financial assets and financial liabilities is governed under the Singapore Financial Reporting Standards (SFRS) or the Financial Reporting Standard for Small Entities (SFRS for Small Entities) for...
by admin | Dec 31, 2017 | Accounting, Tech News
Step 5 Recognise revenue when performance obligation is satisfied 9.1 Step 5 is to determine the appropriate method of revenue recognition when (or as) the entity satisfies performance obligations at a point in time or over time. 9.2 An entity shall recognise...
