by admin | Feb 6, 2018 | Accounting, Income Tax, Tech News
OVERVIEW OF FRS 109 Classification and Measurement of Financial Instruments (a) Financial assets are measured at their fair value at initial recognition, and subsequently measured at amortised cost (using the effective interest method), FVOCI or FVTPL. Fair value...
by admin | Feb 6, 2018 | Accounting, Income Tax, Tech News
The Accounting Standards Council issued Financial Reporting Standard (FRS) 115 Revenue from Contracts with Customers on 19 Nov 2014. FRS 115 applies to contracts which an entity has with its customers. It is effective from annual periods beginning on or after 1...
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 | Nov 22, 2017 | Income Tax, Tech News
FRS 109 Financial Instruments will apply to entities for annual periods beginning on or after 1 January 2018. On or about 22 November 2017, the Inland Revenue Authority of Singapore (IRAS) has published an e-Tax Guide which provides guidance on the tax treatment for...
by admin | Nov 4, 2017 | Income Tax, Tech News
The following are some highlights of the recent update under the Income Tax (Amendment) Act 2017 that published in the Government Gazette (electronic edition) on 26 October 2017. Personal taxation All individual tax residents will receive a personal income tax rebate...
