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...
by admin | Dec 24, 2017 | Accounting, Tech News
The Institute of Singapore Chartered Accountants (ISCA) had issued the new and revised auditor reporting standards in July 2015, which are effective for audits of financial statements for periods ended on or after 15 December 2016. ISCA has now developed a publication...
by admin | Dec 17, 2017 | Accounting, Tech News
The International Reporting Standards (IFRS) has published a guidance on the IFRS for the SMEs Standard on 14 December 2017. The guidance was developed by the SME Implementation Group. This guidance is in the form of a question-and-answer document (Q&A) and...
