19 Jan '093 CPD / CPE Hours Developments in Accounting for Financial Instruments: How responses to the “financial tsunami” will affect financial reporting
Developments in Accounting for Financial Instruments: How responses to the “financial tsunami” will affect financial reporting
Date: 19 Jan 2009
CPD: 3 Hrs
Competency Map - A1
About the seminar
In the light of the financial crisis that has wreaked havoc on global markets, the International Accounting Standards Board (IASB) has adopted unprecedented measures to deal with the accounting of financial instruments and has also accelerated on-going projects to deal with the issues arising from the financial crisis. These actions result in current and possibly future actions that will impact financial reporting of Singapore companies. Given the rapid rate of change and the possibilities of an accelerated due process, Singapore companies need to be ready for the possible changes ahead. This seminar provides insights into the changes to date and possible changes arising from the work-in-progress of the IASB.
Outline
The seminar reviews recent changes to IAS/FRS 39 and other projects of the IASB with respect to accounting for financial instruments. These include:
Amendment to IAS/FRS 39 on the Reclassification of Financial Assets
Guidance on fair value measurements
Discussion Paper on Reducing Complexity in Reporting Financial Instruments
Exposure draft proposing improvements to IFRS 7 Financial Instruments: Disclosures
Other on-going developments
Facilitator
Dr Pearl Tan Practice Associate Professor in Accounting
Singapore Management University (SMU) PhD (University of Queensland), MSc (London School of
Economics), B Acc (Hons) (University of Singapore), FCPA (S’pore), FCCA, FCPA (Australia)
Dr Pearl Tan is a Practice Associate Professor in Accounting at Singapore Management University (SMU) and has had extensive experience in teaching and developing advanced accounting courses on Financial Reporting Standards at SMU and previously at Nanyang Technological University. She has won a number of teaching awards including the SMU Distinguished Teacher Award, Outstanding MPA Teaching Award, Teacher of the Year and the MBA Teacher of the Year award. She also has had in-depth experience in auditing and was an Audit Manager in an international accounting fi rm prior to joining academia. She has co-written a book, “Advanced Financial Accounting” published by McGraw-Hill that deals with complex accounting standards and has published papers for international conferences and provided feedback to key policy making bodies. Presently, Dr Tan sits on the Accounting Standards Committee of the Institute of Certifi ed Public Accountants of Singapore.
