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A Practical Guide to Financial Reporting Standards (Singapore), 6th Edition

A Practical Guide to Financial Reporting Standards (Singapore), 6th Edition

Author: Professors Ng Eng Juan; Choo Teck Min; Koh Wei Chern; Low Kin Yew
Publisher: CCH Singapore
ISBN: 9789814446242
Published In: December 2016
Format: Paperback , 1250 pages
Jurisdiction: Singapore ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

Description
Contents

Details

A Practical Guide to Financial Reporting Standards (Singapore), 6th Edition serves as an excellent guide to the Financial Reporting Standards (FRSs) and Interpretations of Financial Reporting Standards (INT FRSs) issued by Accounting Standards Council (ASC) that are effective as at 1 January 2017. It also covers three major FRSs that are effective on:

1 January 2018 (FRS 109 Financial Instruments and FRS 115 Revenue from Contracts with Customers), and
1 January 2019 (FRS 116 Leases).

Its comprehensive coverage of Singapore’s accounting standards will help both accounting practitioners and students cut down on research time and aid them in preparing their accounts and financial statements efficiently.

Key Features & Benefits

Ensures compliance in preparation of accounting and financial statements and helps readers to effectively apply all the existing FRSs in their financial reporting.
Guides readers expertly through the full range of implications and repercussions that are likely to arise from the revised and amended standards.
Questions-and-Answers dealing with the more complex accounting issues are included at the end of chapters to enhance understanding of the accounting requirements of the FRSs.
Users of financial statements including investors, employees, lenders, suppliers and customers, will benefit from using the guide to help them understand and interpret financial reports.

NEW in this Edition

Since the publication of the 5th edition of this book in 2013, there have been some important changes to the FRSs in Singapore that necessitate this 6th edition:

A new standard FRS 114 Regulatory Deferred Accounts was issued and is effective for annual periods beginning on or after 1 January 2016
A new standard FRS 115 Revenue from Contracts with Customer was issued, which supersedes FRS 11 and FRS 18 and the related INT FRS, effective for annual periods beginning on or after 1 January 2018
A new standard FRS 109 Financial Instruments was issued, which supersedes FRS 39, effective for annual periods beginning on or after 1 January 2018
A new standard FRS 116 Leases was issued and supersedes FRS 17 and the related INT FRS effective for annual periods beginning on or after 1 January 2019, and
Several FRSs were amended through the various Improvements to FRSs and Amendments to FRSs.

Topics Covered

All Singapore Financial Reporting Standards (FRSs)
Interpretations of Financial Reporting Standards (INT FRS)

• FRS 1 Presentation of Financial Statements
• FRS 2 Inventories
• FRS 7 Statement of Cash Flows
• FRS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• FRS 10 Events After the Reporting Period
• FRS 11 Construction Contracts
• FRS 12 Income Taxes
• FRS 16 Property, Plant and Equipment
• FRS 17 Leases
• FRS 18 Revenue
• FRS 19 Employee Benefits
• FRS 20 Accounting for Government Grants and Disclosure of Government Assistance
• FRS 21 The Effects of Changes in Foreign Exchange Rates
• FRS 23 Borrowing Costs
• FRS 24 Related Party Disclosures
• FRS 26 Accounting and Reporting by Retirement Benefit Plans
• FRS 27 Separate Financial Statements
• FRS 28 Investments in Associates and Joint Ventures
• FRS 29 Financial Reporting in Hyperinflationary Economies
• FRS 32 Financial Instruments: Presentation
• FRS 33 Earnings Per Share
• FRS 34 Interim Financial Reporting
• FRS 36 Impairment of Assets
• FRS 37 Provisions, Contingent Liabilities and Contingent Assets
• FRS 38 Intangible Assets
• FRS 39 Financial Instruments: Recognition and Measurement
• FRS 40 Investment Property
• FRS 41 Agriculture
• FRS 101 First-Time Adoption of Financial Reporting Standards
• FRS 102 Share-Based Payment
• FRS 103 Business Combinations
• FRS 104 Insurance Contracts
• FRS 105 Non-Current Assets Held for Sale and Discontinued Operations
• FRS 106 Exploration for and Evaluation of Mineral Resources
• FRS 107 Financial Instruments: Disclosures
• FRS 108 Operating Segments
• FRS 110 Consolidated Financial Statements
• FRS 111 Joint Arrangements
• FRS 112 Disclosure of Interests in Other Entities
• FRS 113 Fair Value Measurement
• Appendix 1: INT FRS