Events 2008 @ LehmanBrown.com

• A comparison between IFRS and Chinese GAAP
  [21st July 2009 Singapore, 22nd July 2009 Malaysia.]

Date: 21st & 22nd July 2009
Time: 9.00am – 5.00pm
Venue: Singapore & Malaysia.

Since 1 January 2007, public-listed companies in China are required to adopt the new Chinese accounting standards mandated by the securities regulators. The new Chinese accounting standards are similar in many ways to global standards. In spite of the convergence movement, there are still specific and noteworthy differences between the Chinese GAAP and the IFRS as well as the US GAAP. With the globalization of the business environment, it is necessary for the preparers of financial statements, global investors, bankers and stakeholders to get an in-depth understanding of these three primary accounting regimes. Our invited speaker will review and illustrate the major differences between the different standards using case studies and examples.

Program

1. Sources of Chinese GAAP
• History of Chinese Accounting System (CAS) and Chinese GAAP
• New CAS Vs. Old System
• CAS & IFRS Equivalent
• Conceptual framework of Chinese GAAP and IFRS

2. Presentation & Disclosure under IFRS & Chinese GAAP
• Presentation of financial statements – CAS 30 & 31 Vs. IFRS 1 & 7
• Treatment of extraordinary items and non-recurring items
• Owner’s Equity and Executive Compensation Disclosure
• Interim reporting – CAS 32 Vs. IFRS 34
• Segment reporting – CAS 35 Vs. IFRS 14 & 8
• Foreign currency translation – CAS 19 Vs. IFRS 21 & 29
• Accounting for FX transactions
• Related party disclosure – CAS 36 Vs. IFRS 24
• Earnings per share – CAS 34 Vs. IFRS 33
• Accounting policies, changes in accounting estimates and errors – CAS 28 Vs. IAS 8

3. Recognition & Measurement of Assets
• Inventories – CAS 1 Vs. IAS 2
• Property, plant and equipment – CAS 4 Vs. IFRS 16
• Borrowing cost – CAS 17 Vs. IFRS 23
• Capitalization of borrowing cost and interest payments
• Assets held for sale and discontinued operations – CAS 4 & 30 Vs. IFRS 5
• Investment property – CAS 3 Vs. IFRS 40
• Intangible assets – CAS 6 Vs. IFRS 38
• Impairment – CAS 8 Vs. IFRS 36
• Accounting treatment of impairment losses

4. Recognition & Measurement of Liabilities
• Leases – CAS 21 Vs. IFRS 17
• Sale and leaseback treatment
• Provision and contingencies – CAS 13 Vs. IFRS 37
• Definition and measurement of provisions and their accounting treatment
• Employee benefit – CAS 9 & 10 Vs. IFRS 19 & 26
• Share based payment – CAS 11 Vs. IFRS 2
• Accounting treatment of employee stock options
• Deferred tax – CAS 18 Vs. IFRS 12

5. Consolidation & Business Combination
• Consolidated financial statements – CAS 2 & 33 Vs. IFRS 27, 28 & 31
• Business combination – CAS 20 Vs. IFRS 3
• Latest changes to IFRS 3

6. Special Industries
• Biological assets – CAS 5 Vs. IFRS 41
• Direct insurance and reinsurance contracts – CAS 25 & 26 Vs. IFRS 4
• Mineral resources – CAS 27 Vs. IFRS 6
• Government grants – CAS 16 Vs. IFRS 20 & 41

7. Latest Changes for Chinese GAAP and Other Future Reforms

Key Event Benefits

• Appreciation of the major technical differences between Chinese GAAP and IFRS requirements.
• Evaluation of the impact of these differences through the use of examples and case studies
• Minimize the learning curve for new GAAP by capitalizing on existing knowledge

Guest Speakers

Mr. Russell Brown, Managing Partner, LehmanBrown International Accountants

Ms. Lydia Lim, Senior Manager, LehmanBrown International Accountants

Registration Details

Contact Person: Daryl
Fax Number: 6276 6471
Enquiries Hotline: 6838 9037

For more information about this one day conference, please click here.

• 国际财务报告准则和中国会计准则比较
  [21st July 2009 Singapore, 22nd July 2009 Malaysia.]

日期: 2009年7月21日，22日
时间: 9.00am – 5.00pm
地点: 新加坡和马来西亚

2007年1月1日以来，我国要求对上市公司采取强制进行由证券规管机构用新会计准则进行审查，问邀请的演讲者将研讨和说明各种准则只见的不同以及主要区别。

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