[01] INTRODUCTION
Accounting for business combinations present considerable challenges for preparers of MFRS financial statements, in particular the changes in controlling and non-controlling interests, purchase price allocation and goodwill. Since coming into force, MFRS 3 has been through several amendments, the latest being definition of a business which is effective from 1 January 2020. Gain a sound understanding of the requirements and methodology for: Accounting for acquisition and loss of control of interests in subsidiaries and associates, determination of the purchase price allocation (PPA), as well as goodwill and impairment test on goodwill under MFRS 136.
[02] COURSE OBJECTIVES
This programme seeks to help you:
• Understand the requirements and application of MFRS 3 Business Combinations and related Standards • Differentiate between the different levels of investments and identify the appropriate accounting treatment
• Perform a PPA exercise and calculate goodwill by applying the rules in MFRS 3 Business Combinations and MFRS 13 Fair Value
• Evaluate the impact of contingent consideration and learn the recognition and measurement rules for contingent liabilities
• Perform an impairment test on goodwill based on MFRS 136
[03] METHODOLOGY
PowerPoint and whiteboard presentation of relevant standards, illustrative examples in practice and explanation of the principles and methodology used.
[04] WHO SHOULD ATTEND
• Group Financial Controllers , Accountants and Executive that newly involve in Group Accounts
• Finance Managers and Preparers of Financial Statements
• Professionals involved in M&A
• Audit Partners, Audit Manager
[05] DATE, TIME & FEE
Date: 17-18 Oct 2023 (Tue-Wed)
Time: 9.00am - 5.00pm
Mode: Online/ Interactive
Level: Intermediate
Fee: [HRDF CLAIMABLE]
- Early Bird Offer (before 20 Sep 2023) - RM 1200
- Special Offer (before 10 Oct 2023) - RM 1280
- Normal Fee - RM 1360
>> Fee incl. Course Notes, Certificate of Completion and 6% Service Tax
** OFFER **
- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.
HRDCorp Claimable Course:
Trainer MyCoiD: 429594X
Course Scheme: HRDCorp Claimable Course
Course Type: Remote Online Training (Public)
Course Code:
[06] COURSE OUTLINE
Module 1 - Acquisition Accounting—MFRS 3
• Definition of a business and a business combination
• Determining whether a transaction is a business combination
• Amendments to MFRS 3 and the definition of “business”
• Scope exemptions
• Identifying the acquirer
• Determining the acquisition date and consideration transferred
Module 2 - Recognising and Measuring Identifiable Assets Acquired, Liabilities Assumed, and Non-Controlling Interests
• Recognition and measurement principles
• Measurement principle for assets and liabilities
• Assets with uncertain cash flows (fair value adjustments) and assets that may not be used
• Recognising and measuring the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree
• Choice in the measurement of non-controlling interests
• Exceptions to the recognition and measurement principles
Module 3 - Recognising and Measuring Goodwill and Determining Purchase Price Allocation (PPA)
• Determining what is part of the business combination transaction
• Bargain purchases
• Consideration transferred and PPA based on the fair value of assets acquired, MFRS 13
• Testing goodwill for impairment
Day 2
Module 4 - Business Combinations Achieved in Stages
• Business combinations achieved by step acquisitions
• Business combinations achieved without the transfer of consideration
• Contingent consideration
• Dealing with acquisition-related costs
Module 5 - Subsequent Measurement & Accounting
• Pre-existing relationships and reacquired rights
• Contingent liabilities and contingent payment to employees
• Summary of the Disclosure Requirements
• Disclosure of information about current business combinations
• Disclosure of information about adjustments of past business combinations
Module 6 - Consolidated Financial Statements: MFRS 10
• Determining control
• Accounting for changes in ownership interests
• Disclosure of interests in other entities: MFRS 12
Module 7 - Investments in Associates and Joint Ventures: MFRS 128
• Acquisition and loss of significant influence
• Applying the equity method
• Impairment testing: MFRS 136
[07] SPEAKER PROFILE
DR OOI CHEE KEONG
HRD Corp Certified Trainer, Chartered Accountant
Dr Ooi Chee Keong is the PSMB Certified Trainer and Senior Lecturer from School of Accounting and Finance, Faculty of Business and Law, Taylor’s University. He is also a Chartered Accountant from Malaysia Institute of Accountants since 2002. Chee Keong has had a long and distinguished career as a Chartered Accountant in a number of well-known Malaysian and International Companies. He started his career in Accounting as an Auditor in a medium firm in 1999. In 2002, He joined Road Builder (M) Snd Bhd as an Assistant Accountant, attached to the International Division. In 2011, he was raised to the Chief Financial Officer position with TNB Energy Services Sdn Bhd (a wholly owned subsidiary of Tenaga Nasional Berhad). He has more than fifteen years of hand-on experience in difference areas of management and functions in diverse industries such as auditing, construction, engineering, manufacturing, trading and utilities. Other than finance, auditing, taxation, corporate finance and credit control, he also involved in business development, business strategic planning, budgeting and cost management with public listed companies. In 2014, he completed his Doctor of Philosophy (Phd) degree and was offered Assistant Professor position with Universiti Tunku Abdul Rahman. Area(s) of specialization: Financial Accounting, Consolidated Financial Statements, Corporate Governance, Accounting Quality, Earnings Management and Earnings Quality.
[08] ENQUIRY & REGISTRATION
Enquiry: yes@sst2u.com
Contact:
- General (03 - 8604 7270)
- Teo (011 - 3178 9203)
- Logesh (012 - 503 0346)
- Siti (012 - 383 8603)
- Han (019 - 323 0507)