RGF Singapore hosted our fourth Finance Breakfast Roundtable at Tower Club this morning. As a value add to our network, RGF organised this complimentary, by invitation event that seats a small group of 12 finance professionals. The scale of the event was increased to cater to overwhelming demand.
Our expert speaker who possess more than 15 years of experience in public accounting in serving local, multinational and listed companies in Singapore and statutory boards covered the topic ‘Accounting for Leases’ where he shared the key changes and challenges brought about by the new accounting standard for leases to help organizations be prepared in advance.
The new lease accounting standard requires a lessee to recognise assets and liabilities for the rights and obligations created by leases (with some limited exceptions). It is effective for annual periods beginning on or after 1st January 2019, with early application permitted if IFRS 15 Revenue from Contracts with Customers has also been applied.
We would like to thank the senior finance professionals who attended our Finance Breakfast Roundtable despite the stormy weather and for their positive feedback.