However, the timeline for full convergence was adjusted to await developments in the major projects on revenue recognition, financial instruments and the impairment loss model, all of which are of significance to Singapore entities. Given the mandatory or expected mandatory effective date of 1 January...
This page provides a guide to Singapore Financial Reporting Standards (FRS). Through this guide, we will help you understand the key concepts and features of the Singapore FRS framework. Financial Reporting standards prescribe the methods of recognition, measurement, presentation and disclosure requiremen...
Mr Cheong Mun Hong, Partner of MHC Partnership LLP (photo on the left) was the speaker for FRS 115Revenue from Contracts with Customerswhile Ms Cheong Kum Foong, Partner of MHC Partnership LLP (photo on the right) was the Emcee for the seminar. Eye Care Talk 2018 The firm had the pleas...
(3) Comprise mainly adjustments for hedging instruments measured at fair values under FRS 39, Financial Instruments: Recognition and Measurement. "*" denotes less than S$0.5 million. Interest expense increased by 11% from higher average borrowings partly offset by decline in interest rates. Net ...
Guocoland Ltd Key credit considerations Challenging 9M2012 performance: Revenue declined 39% y/y to S$358.8mn due to the introduction of INT FRS 115, where sales of property under the deferred payment scheme was not recognized as revenue until completion. While cost control was good with ...
Artistic-related intangible assets Marketing-relating intangible assets Technology-based intangible assets Customer-related intangible assets Contract-based intangible assets Goodwill: After initial recognition of goodwill, FRS 103 requires that goodwill be recorded at cost less acc...
The classifications of intangible assets under FRS 103 include: • Artistic-related intangible assets • Marketing-relating intangible assets • Technology-based intangible assets • Customer-related intangible assets • Contract-based intangible assets • Goodwill: After initial recognition of ...
In arrangement for software development and related services along with support services, the Group and the Group has applied the guidance as per FRS 115 Revenue from Contracts with Customers, by applying revenue recognition is respect of each distinct performance obligations. For allocating the ...