Thursday, 17 November 2016

A Practical Guide to Financial Reporting Standards, Singapore (6th Edition) launching soon!

The long anticipated 6th edition of the WK A Practical Guide to Financial Reporting Standards, Singapore will be available for purchase on 13 December 2016!

A Practical Guide to Financial Reporting Standards, Singapore is a comprehensive guide to accounting standards in Singapore.

This 6th Edition covers all the Financial Reporting Standards (FRSs) and Interpretations of Financial Reporting Standards (INT FRS) issued by the Accounting Standards Council that are effective as at 1 January 2017. Also included are the three major FRSs that are effective on:

  • 1 January 2018 (FRS 109 Financial Instruments and FRS 115 Revenue from Contracts with Customers), and
  • 1 January 2019 (FRS 116 Leases).
The major provisions of the standards are highlighted and illustrated, with a professional emphasis.

This book serves as a comprehensive guide to the FRSs. It will be an invaluable source of reference for both the accounting professionals and students in Singapore.

Key features and benefits include:
  • Questions and Answers dealing with the more complex accounting issues are included at the end of chapters, to enhance understanding on the accounting requirements of the FRSs.
  • Well-organised and user-friendly commentary to facilitate easy understanding of FRSs.
  • Enables preparers to comply with and effectively apply all the existing FRSs in their financial reporting.
  • Guides readers expertly through the full range of implications and repercussions that are likely to arise from the revised and amended Standards.
  • Users of financial statements (eg investors, employees, lenders, suppliers and other trade creditors, customers, governments and their agencies and the general public) will be able to understand and interpret financial reports to satisfy their different needs for financial information.
Since the publication of the 5th edition of this book in 2013, there have been some important changes to the FRSs in Singapore that necessitate this 6th edition:

  • A new standard FRS 115 Revenue from Contracts with Customer was issued, which supersedes FRS 11 and FRS 18 and the related INT FRS, effective for annual periods beginning on or after 1 January 2018
  • A new standard FRS 109 Financial Instruments was issued, which supersedes FRS 39, effective for annual periods beginning on or after 1 January 2018
  • A new standard FRS 116 Leases was issued and supersedes FRS 17 and the related INT FRS effective for annual periods beginning on or after 1 January 2019, and
  • Several FRSs were amended through the various Improvements to FRSs and Amendments to FRSs.
To order, existing customers can contact your regular Account Manager. New customers can visit our online store. Get your copy now!

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