MFRS 15 & 16 Seminar

July 4th 2019- The institute of Commercial and Industrial Accountants Malaysia (ICIA) held their first training event at their new premises in Kelana  Jaya. The seminar entitled "Understand MFRS 15 & 16" was conducted by a distinguished guest speaker, Mr. Ng Kean Kok CA(M), who is well known as an accounting and corporate trainer.

Training in Session with attentive participants.

Participants were also treated to lunch at a Thai Restaurant and several council members were in attendance including our VP En. Amjath, Mr. Lee TK and Mr. Chiam GH. Participants were given comprehensive notes for the seminar and will receive a certificate of participation from ICIA with 8 CDP hours/points.

MFRS 15 and 16 Seminar 4 July 201

The Institute would like to thank all those who participated in the seminar and apologizes for any shortcomings during the seminar.  Special thanks to Mr. Lee who has worked tirelessly for this event, Mr Chiam GH for his help and En. Amjath for the arrangements. The Institute will continue to organize more seminars in the future at affordable price so that more members and the public can benefit from it; in line with the government's drive to improve the financial literacy of the rakyat.

Time for networking during lunch

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The Institute is organizing a seminar on the above topic on the 4th of July 2019, at its training center in Kelana Jaya. The seminar will be facilitated by a well known accounting professional and speaker. For more details click the link below or call us at +603-7803 5575;

https://www.icia.asia/wp-content/uploads/2019/06/MFRS-15-16-NgKK-ICIA.pdf

Overall, this training seeks to provide the participants with high  level coverage of the essentials of both MFRS 15 and MFRS 16, the
challenges that are likely to come and the preparations that may be required.

What is MFRS 15 & 16?

MFRS 15 Revenue from Contracts with Customers replaces all previously issued accounting standards relating to revenue accounting treatments. MFRS 15 streamlines the accounting
for revenue recognition in all industries by providing a single comprehensive revenue recognition model for all contracts with
customers. This standard introduces a new structured 5-step approach in revenue recognition and provides more detailed guidance on revenue recognition It emphasizes on performance obligations in contracts and the allocation of transaction price(s) to those obligations. Participants of this training will be trained on the basic requirements of MFRS 15, how to implement this 5 steps model, with some examples and illustrations under different
scenarios.
MFRS 16 provides for changed requirements in the way lessee accounting for lease transactions. Under MFRS 117, lessees account for such transactions either as on-balance sheet finance
leases or off-balance sheet transactions. Essentially, MFRS 16 requires almost all leases to be recognized on the balance sheet. MFRS 16 affects all businesses and has the potential to gross-up the balance and affect performance reporting and disclosures

A ½ Day Seminar on The Importance of Wills and Trusts

What you Must Know, Pre-Plan in A Worry-Free Environment, Your Needs Are Our Utmost Concern                                                 

20th September 2017 * 2.00pm to 5.00pm * Bangunan BU8, Bandar Utama, 47800 Petaling Jaya

 Course Objectives:

  • Wills - why is it important to have a Will
  • How are wills revoked or invalidated?
  • If you died without a will, how are your assets distributed
  • Joint Bank Accounts – does it help?
  • What are the duties of an Executor?
  • Who should you appoint as your Executor?
  • If your Estate are frozen, how do your minor children survive until they reach 18 years old?
  • How do you take care of your aged parents (who depend on you) in your passing?
  • Trusts – what is it? How does it work?
  • Mirror wills – what is it?
  • Living wills – what is it?
  • Estate Planning – a useful tool to help your family
  • Case studies

Speaker’s Profile

Mr Ngau Wing Fatt, a Chartered Accountant started his career as an audit clerk in a local Public Accounting firm. After completing his articleship, he worked as an Accountant in various local firms and then joined Nylex Malaysia as Company Secretary/Accountant.  In this multinational company, he worked in various senior positions, such as Group Company Secretary, Finance Controller and Senior Manager Overseas Operations over a period of 19 years.  His positions included posting in Malaysia, Singapore, Hong Kong and China.  He retired from the group in December 1999.

After retiring from the Nylex Group, he worked in various Consulting assignments in Malaysia, Hong Kong and China. He joined Rockwills Corporation as a franchisee Estate Planner in 2011.  Mr Ngau now advises on preparations of wills and trusts.

Venue, Time and Date

IPA Malaysia Branch Training Room, L2.05, Level 2, Wisma BU8, 11 Lebuh Bandar Utama, Bandar Utama, 47800 Petaling Jaya, Selangor

Wednesday 20 September 2017, – 2.00 pm to 5.00 pm (Lunch will be at 1.00 pm at the Ipoh Old Town White Coffee in the same building).

Seminar Fee

Members       –  RM30.00    Non-members   - RM 50.00
Seminar Fee includes lunch, course materials and a certificate of attendance.

Registration

Institute of Commercial and Industrial Accountants, Malaysia
No. 50 C-3 Kelana Mall, Jalan SS 6/14, Kelana Jaya,
47301 Petaling Jaya, Selangor, Malaysia
Telephone / Fax: (03) 7803 5575   Email:  secretariat@icia.asia

Registration form & Brochure