Synopsis:
This module explores practical case studies that illustrate the application of sound professional judgement to complex "messy" real-world accounting and audit issues where facts may be incomplete, documentation is limited, and management's preferences may conflict with technical requirements. The speaker will focus on key topics, including:
This module also explores how to account for corporate-owned insurance premiums under FRS 117. Participants will examine policies with and without cash surrender value, distinguish insurance coverage from investment components, and determine when premiums should be recognised as prepayments or when a refund component may be accounted for as a financial asset under FRS 109 Financial Instruments.
Intended For:
Competency Mapping:
FCA (Singapore)