(MALAYSIAN PRIVATE ENTITIES REPORTING STANDARD)
MPERS
(MALAYSIAN PRIVATE ENTITIES REPORTING STANDARD)
Introduction All private entities would be required to apply a single financial reporting framework – the MPERS, effective 1 January 2016. This deadline leaves little time for “Sendirian Berhads” to get a better understanding of the MPERS. This training program aims to help participants to understand the salient section of MPERS, comprehend the financial impact of MPERS and plan for the implementation of the MPERS. The course can also assist practitioners, preparers and users of financial statements keep pace the new accounting pronouncements.
Date: 14 – 15 January 2016 Venue: Seri Pacific Hotel, Kuala Lumpur Time: 9.00am – 5.00pm Scheme: SBL Normal: RM2,490.00 Early Bird: RM2,190.00 Register Before 15 December 2015 Group Discount (10% for 3rd delegates & above) *Price shown does not include GST
Benefits •
Peek into software to help in managing supplier quality
Who’s Suitable for this?
•
The preparer will learn and improve the level of financial reporting
This program can be further customized to cater for Account supervisor, Account executives, Account preparer, Auditors of Private Entities, Accountants, and Finance Managers.
and keep up new way business evolve and increase expectation from user of financial statement. •
Ensure smooth transition MPERS and practical brief on apply the salient technical requirement of MPERS
•
Better understand the MPERS requirement and disclosure requirement
•
Rely less on external auditor by building up your own knowledge
Methodology Lecture supported with power point presentation and discussion, use of illustrative examples, Q & A session
Key Content Module 1 - Private Entities • Defines a private entity • Scope of the Section • The Directors’ Report of Companies Module 2 - Presentation of Financial Statements • Fair Presentation • Going concern • Frequency of reporting • Complete Set of Financial statement Module 3 - Statement of Financial Position • Information to be presented • Current/non-current Distinction Module 4 - Statement of Comprehensive Income and Income Statement • New terms and definitions • Information to be presented • Other comprehensive income Module 5 - Statement of Changes in Equity • Purposes of the statement of changes in equity • Presentation of owner changes in equity Module 6 - Statement of Cash Flow • Cash and cash equivalent • Cash flows from operating activities • Direct or indirect method • Cash flows from Investing and Financing Activities Module 7 - Notes To The Financial Statement • Structure of the notes • Disclosure of judgements and Estimation Uncertainties Module 8 - Accounting Policies, Estimates and Errors • Methods of effecting a Change in Accounting Policy • Retrospective application, current period application, prospective application • Changes in accounting estimates • Correction of prior period errors
Module 9 - Property, Plant & Equipment (PPE) • Recognition Principle - A component approach • Measurement at Recognition • De-commissioning, Dismantling and Restoration • Subsequent costs on PPE • Depreciation accounting on PPE • The issue of depreciation, Residual value and Fair value • De-recognition of PPE Module 10 - Revenue • Measurement of revenue • Deferred consideration • Combination of Sales of goods and rendering of services • Separating the components in a single Transaction • Recognition of Service Revenue Module 11 - Impairment of Assets • Measurement of Recoverable amount • Fair value less costs to sell • Value in use • Recognition and measurement of an impairment loss • Changes in Estimates • Cash - Generating Units (CGU) Module 12 - Events After The End of The Reporting Period • Accounting for Adjusting Events • Accounting for Non-adjustment events • Dividends Declared and other Issues Module 13 - Comparative Analysis of PERS & MPERS Framework • Narrative comparison of the two reporting framework • Presentation, accounting policies, estimates and errors • Standard on assets, ppe, impairment of assets • Standard on liabilities, provision and contingencies
Course Objectives
Kenneth Tam Fook Cheong Fellow Member of Chartered Association Of Certified Public Accountant (FCCA) Associate Member Of Institute Chartered Of Management Accountant (ACMA)
Kenneth Tam Fook Cheong is a fellow member of the Chartered Association of Certified Accountants, UK and associate member of the Chartered Institute of Management Accountants, UK. He is also a member of the Malaysia Institute of Accountants, holds a certificate IV in Assessment and Workplace Training awarded by TAFE SA from Australia and is a certified PSMB trainer. He started his career in 1975 as an auditor in a medium-sized audit firm and later jointed National University of Malaysia as a Financial Accountant. He spent the next 20 years with Petronas where he undertook various roles within the group in the areas of strategic planning, corporate planning, financial reporting, project and property management and other finance related matters. Currently, he serves as learning and training consultant for various training consultancies, training providers and facilitates workshop sessions for professional and accountancy bodies as well as a local counsellor for a MBA program (finance module). He also serves as an independent non-executive director for two companies listed on Bursa Malaysia. Among some of the organizations that have benefited from his expertise include Proton Bhd., EFP,Petronas Gas Bhd, Harper Wira Sdn Bhd, Petronas Dagangan Bhd, Telekom Bhd, Public Bank Bhd, IJM Bhd, MISC, Digi Telecommunication Bhd, Plus Bhd, to name a few. Programs that he frequently conducts are Financial Statement Analysis, Costing Technique For Executive, Accounting Skill For Supervisor, Practical Financial And Accounting Personnel, Practical Costing Technique And Skill, Cash Flow And Working Capital Management, Financial & Analysis And Interpretation, Cash Management Through Effective Working Capital Management, Costing Techniques, Control And Application, Maintain Full Set Of Account, Financial For Non-Finance Manager, Costing And Budgeting For Secretary, Creative Accounting, Fundamental Of Accounting, Costing For Secretary, Corporate Finance Strategic Planning and Budgeting, Effective Working Capital Management, Project Evaluation and Control, and Costing Technique and Decision Making among others.
(MALAYSIAN PRIVATE ENTITIES REPORTING STANDARD)
Introduction All private entities would be required to apply a single financial reporting framework – the MPERS, effective 1 January 2016. This deadline leaves little time for “Sendirian Berhads” to get a better understanding of the MPERS. This training program aims to help participants to understand the salient section of MPERS, comprehend the financial impact of MPERS and plan for the implementation of the MPERS. The course can also assist practitioners, preparers and users of financial statements keep pace the new accounting pronouncements.
Date: 14 – 15 January 2016 Venue: Seri Pacific Hotel, Kuala Lumpur Time: 9.00am – 5.00pm Scheme: SBL Normal: RM2,490.00 Early Bird: RM2,190.00 Register Before 15 December 2015 Group Discount (10% for 3rd delegates & above) *Price shown does not include GST
Benefits •
Peek into software to help in managing supplier quality
Who’s Suitable for this?
•
The preparer will learn and improve the level of financial reporting
This program can be further customized to cater for Account supervisor, Account executives, Account preparer, Auditors of Private Entities, Accountants, and Finance Managers.
and keep up new way business evolve and increase expectation from user of financial statement. •
Ensure smooth transition MPERS and practical brief on apply the salient technical requirement of MPERS
•
Better understand the MPERS requirement and disclosure requirement
•
Rely less on external auditor by building up your own knowledge
Methodology Lecture supported with power point presentation and discussion, use of illustrative examples, Q & A session
Key Content Module 1 - Private Entities • Defines a private entity • Scope of the Section • The Directors’ Report of Companies Module 2 - Presentation of Financial Statements • Fair Presentation • Going concern • Frequency of reporting • Complete Set of Financial statement Module 3 - Statement of Financial Position • Information to be presented • Current/non-current Distinction Module 4 - Statement of Comprehensive Income and Income Statement • New terms and definitions • Information to be presented • Other comprehensive income Module 5 - Statement of Changes in Equity • Purposes of the statement of changes in equity • Presentation of owner changes in equity Module 6 - Statement of Cash Flow • Cash and cash equivalent • Cash flows from operating activities • Direct or indirect method • Cash flows from Investing and Financing Activities Module 7 - Notes To The Financial Statement • Structure of the notes • Disclosure of judgements and Estimation Uncertainties Module 8 - Accounting Policies, Estimates and Errors • Methods of effecting a Change in Accounting Policy • Retrospective application, current period application, prospective application • Changes in accounting estimates • Correction of prior period errors
Module 9 - Property, Plant & Equipment (PPE) • Recognition Principle - A component approach • Measurement at Recognition • De-commissioning, Dismantling and Restoration • Subsequent costs on PPE • Depreciation accounting on PPE • The issue of depreciation, Residual value and Fair value • De-recognition of PPE Module 10 - Revenue • Measurement of revenue • Deferred consideration • Combination of Sales of goods and rendering of services • Separating the components in a single Transaction • Recognition of Service Revenue Module 11 - Impairment of Assets • Measurement of Recoverable amount • Fair value less costs to sell • Value in use • Recognition and measurement of an impairment loss • Changes in Estimates • Cash - Generating Units (CGU) Module 12 - Events After The End of The Reporting Period • Accounting for Adjusting Events • Accounting for Non-adjustment events • Dividends Declared and other Issues Module 13 - Comparative Analysis of PERS & MPERS Framework • Narrative comparison of the two reporting framework • Presentation, accounting policies, estimates and errors • Standard on assets, ppe, impairment of assets • Standard on liabilities, provision and contingencies
Course Objectives
Kenneth Tam Fook Cheong Fellow Member of Chartered Association Of Certified Public Accountant (FCCA) Associate Member Of Institute Chartered Of Management Accountant (ACMA)
Kenneth Tam Fook Cheong is a fellow member of the Chartered Association of Certified Accountants, UK and associate member of the Chartered Institute of Management Accountants, UK. He is also a member of the Malaysia Institute of Accountants, holds a certificate IV in Assessment and Workplace Training awarded by TAFE SA from Australia and is a certified PSMB trainer. He started his career in 1975 as an auditor in a medium-sized audit firm and later jointed National University of Malaysia as a Financial Accountant. He spent the next 20 years with Petronas where he undertook various roles within the group in the areas of strategic planning, corporate planning, financial reporting, project and property management and other finance related matters. Currently, he serves as learning and training consultant for various training consultancies, training providers and facilitates workshop sessions for professional and accountancy bodies as well as a local counsellor for a MBA program (finance module). He also serves as an independent non-executive director for two companies listed on Bursa Malaysia. Among some of the organizations that have benefited from his expertise include Proton Bhd., EFP,Petronas Gas Bhd, Harper Wira Sdn Bhd, Petronas Dagangan Bhd, Telekom Bhd, Public Bank Bhd, IJM Bhd, MISC, Digi Telecommunication Bhd, Plus Bhd, to name a few. Programs that he frequently conducts are Financial Statement Analysis, Costing Technique For Executive, Accounting Skill For Supervisor, Practical Financial And Accounting Personnel, Practical Costing Technique And Skill, Cash Flow And Working Capital Management, Financial & Analysis And Interpretation, Cash Management Through Effective Working Capital Management, Costing Techniques, Control And Application, Maintain Full Set Of Account, Financial For Non-Finance Manager, Costing And Budgeting For Secretary, Creative Accounting, Fundamental Of Accounting, Costing For Secretary, Corporate Finance Strategic Planning and Budgeting, Effective Working Capital Management, Project Evaluation and Control, and Costing Technique and Decision Making among others.
