Walking through contracts the MFRS 15 way

11 May 2017 - 12 May 2017, 9:00AM - 6:00PM, MYT

Walking through contracts the MFRS 15 way

MFRS 15, Revenue from Contracts with Customers is the new revenue standard which replaces all the existing revenue related standards and also introducing a new 5-step model in recognising revenue. This workshop is designed to provide accounting and finance personnel with a thorough understanding in applying the new revenue standard (MFRS 15) and how would it impact your business. Participants will also be assessing sample contract using the assessment binder developed by KPMG. Participants are encouraged to bring a revenue contract as a sample for this session.

 

Further information on the seminar is available here.

HRDF application may be made under the Skim Bantuan Latihan, subject to approval by Pembangunan Sumber Manusia Berhad.

For enquiries, please contact:

Ms. Liew Yen Thien Tel: 03-7721 3659
Email: yenthienliew@kpmg.com.my

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Agenda
  Day 1 Day 2
08:30 - 09:00 Registration and light breakfast
09:00 - 10:00 MFRS 15: Revenue from contracts with customers – Overview of the new recognition model scoping(The 5-step model) Step 4 : Allocate the transactionprice  
10:00 - 10:30 Step 1 : Identify the contract(s)
10:30 - 11:00 Break and refreshments  
11:00 - 12:30 Step 1 : Identify the contract(s)(continued) Step 5 : Recognise revenue  
12:30 - 13:00 Step 2 : Identify the perfomanceobligation
13:00 - 14:00 Lunch  
14:00 - 15:00 Step 2 : Identify the perfomanceobligation (continue)   Step 5 : Recognise revenue
15:00 - 15:30 MFRS 15: Revenue from contractswith customers:

•Contract modification
15:30 - 16:00 Break and refreshments  
16:00 - 17:30 Step 3 : Determine the transactionprice MFRS 15: Revenue from contractswith customers:

•Contract costs
•Application guidance
•Disclosure & transition

Assessment binder is incorporated at each of the 5-step model in assessing the contract.

Program Details

• Certificate of attendance will be issued for 16 CPE hours.

• Participants will receive a complimentary copy of KPMG’s revenue related publications that will help in your understanding of the new revenue standard.

• Along with the above, participants will also receive an assessment binder that has been developed by KPMG.

• Who should attend: Directors, Audit Committee Members, Senior Management, Finance and Tax Managers/Executives, Regulators and Academicians.

Guide
Speakers: Fees:
Thong Foo Vung
Partner
RM2,332 (RM2,160*) per person.
Chong Chen Kian
Partner
The fee is inclusive of training materials, refreshments and lunch. The fee also includes GST of 6%. No cancellation and/or refund will be entertained but replacement delegate is welcomed at no additional charge if registered delegate is unable to attend.
Oh Sye Yi
Senior Manager

* Registration and payment received 3 weeks before the event/Registration of 3 or more persons under the same company or group o companies/KPMG Alumni members/KPMG clients.