Singapore

Financial Reporting Matters 

KPMG's Financial Reporting Matters is a newsletter that aims to keep you informed on financial reporting developments in Singapore and internationally.
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    2015
  • Issue 51 | June 2015 (PDF, 1.37MB) New
    In October 2014, the Companies (Amendment) Bill was passed by Parliament. On 15 April 2015, the Accounting and Corporate Regulatory Authority (ACRA) announced that the legislative changes to the Companies Act will be effected in two phases. In this issue, we highlight the key amendments which will have implications on financial reporting.

    With the arrival of the new revenue standard – FRS 115 Revenue from Contracts with Customers, companies in the food, drink and consumer goods (FDCG) sector will need to review their arrangements with distributors and retailers – e.g. trade incentives, warranties, returns and licences as the requirements of the new standard may change the amount or timing of the revenue recognised. In this issue, we highlight the key areas of potential changes affecting FDCG companies.

  • Issue 50 | March 2015 (PDF, 2.43MB)
    Less than a year after publishing their joint standard on revenue recognition, the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) are back in standard-setting mode. In their February and March 2015 meetings, the Boards agreed to propose changes to the new standard and in different ways. Find out more about what the decisions could mean for you in this issue.

    Credit adjustment for the valuation of derivatives is an area of increasing focus, and most entities do not recognise or calculate these adjustments correctly. In this issue, we highlight the key factors to consider when determining whether credit adjustments are relevant.

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XBRL Financial Reporting

XBRL Financial Reporting
Singapore's Accounting and Corporate Regulatory Authority has announced changes to the filing requirements for Singapore incorporated companies effective 2 December 2013.

Find out more about how XBRL could affect your business.