Walking through contracts the MFRS 15 way (Run 6) | KPMG | MY

Walking through contracts the MFRS 15 way (Run 6)

10 July 2018 - 11 July 2018, 8:30AM - 5:30PM, MYT

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 it would impact your business. Participants will also be assessing contract using the assessment binder developed by KPMG. (Note: Participants are encouraged to bring a revenue contract as a sample for this session.)

 

Speakers

Thong Foo Vung, Partner
Thong is an Audit Partner and leads the Audit Technical Department of KPMG in Malaysia. He serves a diversified portfolio of clients comprising public listed and multi-national companies in the manufacturing, construction and plantation sectors. He is a speaker for KPMG’s various MFRS/FRS seminars and workshops. Thong also serves in various Working Groups of the Malaysian Accounting Standards Board (MASB), and is a board member of the Auditing and Assurance Standards Board (AASB) and committee member of the Financial Reporting Standards Implementation Committee (FRSIC) of the Malaysian Institute of Accountants (MIA).

Chong Chen Kian, Partner
Chen Kian is an Audit Partner of KPMG in Malaysia. He has more than 15 years of experience with KPMG auditing public listed and multi-national companies, including 2 years with KPMG in the UK. In addition to audit, he is also involved in providing accounting advisory services such as accounting framework conversion and accounting standard implementation projects, and reporting accountants work for capital market transactions. Chen Kian’s industry experience includes oil and gas, power, trading, manufacturing, construction and agriculture sectors. Chen Kian is a member of both MIA and MICPA, and a fellow member of CPA Australia.

Oh Sye Yi, Director
Sye Yi is attached to the Audit Technical Department of KPMG in Malaysia. Sye Yi’s audit experience includes clients from various industries such as consumer markets, manufacturing and trading, hotel and real estate. She has extensive experience in initial public offering (“IPO”)exercise both locally and in Taiwan. She is also a speaker for KPMG’s various MFRS/FRS public seminars and workshops, and conducts in-house technical trainings on accounting topics for the Firm’s professional staff as well as client in-house trainings.

 

Date and Venue Fees
10 – 11 July 2018, One World Hotel Petaling Jaya RM2,200(RM2,000*) per person

* Registration and payment received 1 month before the event/Registration of 3 or more persons under the same company or group of companies/KPMG Alumni members/KPMG clients. 
 

Registration Form
Registration form click here.
(Please photocopy the registration form, if necessary) 
 

Way to Register

BY E-MAIL / FOR ENQUIRY:
BY MAIL: (Cheque only)
Ms. Lam Pei Ming
at 03-7721 3959
peiminglam@kpmg.com.my
KPMG PLT, Level 10, KPMG Tower
8 First Avenue, Bandar Utama
47800 Petaling Jaya

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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 revenue recognition model (The 5-step model)
• Scoping

Step 4 : Allocate the transaction price  
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 perfomance obligation
13:00 - 14:00 Lunch  
14:00 - 15:00 Step 2 : Identify the perfomance obligation (continued)   Step 5 : Recognise revenue(continued)
15:00 - 15:30 MFRS 15, Revenue from contracts with customers:
• Contract modification
15:30 - 16:00
Break and refreshments  
16:00 - 17:30 Step 3 : Determine the transaction price MFRS 15, Revenue from contracts with customers:

• Contract costs
• Application guidance
• Disclosure & transition

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

Guide

Program Details

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

• Along with the above, participants will also receive an assessment binder for MFRS 15 that has been developed by KPMG in Malaysia.

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