The Accounting Standards Council (ASC) is partnering the International Accounting Standards Board (IASB) to organise a Forum on Revenue Recognition in Singapore on 1 October 2013.
The IASB is targeting to issue the new International Financial Reporting Standard (IFRS) on Revenue Recognition in the third quarter of 2013. This new IFRS, which is based on a “transfer of control” principle to determine revenue
recognition, would impact the top line of entities. For further details of the new IFRS, you may wish to refer to the IASB’s website at http://www.ifrs.org/Current-Projects/IASB-Projects/Revenue-Recognition/Pages/Revenue-Recognition.aspx
In that regard, the Forum would provide a platform for our constituents to hear direct from the IASB the salient features, rationale and key impact of the new IFRS. Constituents could also raise potential implementation issues/questions to
the IASB.
Details of the Forum on Revenue Recognition are as follows:
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Date:
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1 October 2013
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Time:
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4 pm – 6 pm
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Venue:
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To be advised
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Target Audience:
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CFOs
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Registration Details:
If you are interested to participate in the Forum, please email to MOF_Feedback_ASC@mof.gov.sg by 13 September 2013 with the following details:
- your full name, designation and email contact details;
- your organisation name and industry; and
- the topic within the new IFRS that would be of impact to your organisation and any questions you intend to raise at the Forum.
The Forum can accommodate a limited number of participants and priority will be given to registrants who had identified key areas of impact of the new IFRS to their companies for discussion with the IASB. In the interest of admitting as many interested parties as possible, only one participant per organisation will be permitted. Successful registrants for the Forum will be notified by email by 20 September 2013.