The financial reporting landscape takes a new turn with the issuance of new accounting standards, namely: PFRS 15, Revenue from Contracts with Customers, and PFRS 16, Leases. These standards are expected to impact company financials across several industries.
Firstly, PFRS 15 is expected to revolutionize the way entities recognize the top-line account in the income statement: revenue. It requires a 5-step model where an entity recognizes revenue to depict the transfer of promised goods and services to customers at an amount the entity is expected to receive in exchange for those goods and services. The standard also tackles matters such as variable consideration, contract modifications, significant financing component, right to return, among others.
On the other hand, PFRS 16 was issued in response to the off-balance sheet treatment of leases by lessees which greatly understates, at least from an analyst's perspective, gearing and leverage ratios. Under the standard, lessees will not be required to capitalize all leases with the exception of short-term and low-value leases. PFRS 16 requires the recognition of a right-of-use (ROU) asset with a corresponding recognition of lease liability on their balance sheets.
PICPA Building
700 Shaw Boulevard
National Office, Mandaluyong, Metro Manila, Philippines
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Registration Fee for Members in Good Standing
Amount is inclusive of VAT
Registration Fee for Members NOT in Good Standing and Non-Members
Amount is inclusive of VAT
SEMINAR RELATED
FREQUENTLY ASKED QUESTIONS:
Making your online reservation in advance will help us plan for the correct number of participants. Your reservation is counted and considered in the printing of the lecture materials for your use during the seminar, as well as in making reservation for your food (lunch, a.m. and p.m. snacks).
Please visit Seminar /Training Schedules, select your desired schedule and seminar and click "Reserve" on its last column. A page will show in your screen: fill in your information and submit the page. A confirmation window will pop and say your reservation is successful. You will also receive a confirmation email almost instantaneously.
Your reservation is considered confirmed until you inform PICPA of your intention to cancel not later than three (3) days before the seminar date. If you choose to deposit your payment in our bank account, please indicate your name and PRC ID No. (if available) in the deposit slip and email us the scanned copy of the deposit slip as proof of payment. If you need a billing statement, please accomplish the "Request for SOA" (below) and send it to training@picpa.com.ph
Seminar fees are indicated on the page "Seminar/Training Schedules" reservation page. PICPA Members in good standing enjoy special discounted rates on most of our seminar offerings.
You can remit your payment as follows:
UNION BANK: Account Number 100840069691
PNB: Account Number 123110026804
After the bank deposit has been made, please indicate your name and PRC ID No. (if available) in the deposit slip and send us the scanned copy of the teller-validated deposit slip by email to: training@picpa.com.ph. The original copy of your Official Receipt will be issued to you upon registration on the day of the seminar.
Please make sure a copy of your payment document is transmitted to the PICPA Training Division at least three (3) days before the seminar to avoid inconveniences.
While we make every effort to avoid changes to our schedule, PICPA reserves the right to change any seminar offering. If for any reason, PICPA cancels a seminar, seminar fee will be refunded in full. Likewise, in the event that PICPA reschedules the seminar, you will be notified of the changes accordingly.
Requests for cancellation of reservation to slot/s on the seminar/s will only be validated if sent through the registered email address or through the registered mobile number." Phone call cancellations must be followed through with the said email/SMS cancellation request; otherwise the cancellation being requested over the phone is not validated.
Only on extreme cases, a phone call cancellation may be validated if the person cancelling over the phone can secure andprovide all of the following:
A full refund will be given provided we receive a notice of cancellation by email at least 7 days before the seminar date. A 50% refund will be given if the notice is received within 48 hours before the seminar date. Notice of cancellation received less than 48 hours before the seminar date including no-shows is not entitled to a refund.
Your payment will be refunded the in same mode that it was remitted to PICPA
As you have made a reservation, PICPA would have also made the necessary logistical preparations for your food and training materials. For this, PICPA will send you a NO-SHOW billing of Php 500.00 commensurate to the administrative and logistic costs incurred.
We accept walk-ins if there are still seats available on the day of the seminar. If the seminar has reached fully a booked status, we cannot guarantee that we can provide seats and hard copies of the lecture materials.
The seminar fee covers meals (lunch, am/pm snacks), lecture materials and Certificate of Attendance
The registration starts at 7:00 am. Seminar begins at around 8:00 am and generally adjourns no later than 5:30 pm.
As we have limited space, free parking is on a first-come, first-served basis.
Participants with confirmed reservations simply need to sign on the attendance sheet located at the registration counter. For seminars spanning beyond one day, participants will have to sign on the attendance sheet for each day.
Certificate of attendance will be distributed at the end of the seminar on the assigned training rooms. You are encouraged to get your certificate of attendance as we discard unclaimed certificates.
Contact the PICPA Training Division at (02) 723-0691 to 93 or 09175805872 (Globe) or 09199114086 (Smart)