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Mastering Application of XBRL BizFinx Filing System

The BizFinx filing system comprises a free offline preparation tool provided by ACRA for companies to prepare XBRL financial statements. All Singapore incorporated companies which are either unlimited or limited by shares will be required to file a full set of financial statements in XBRL according to a minimum tagging list within the ACRA Taxonomy with effect from October 2013.

Participants to bring along own laptop for the hands-on exercises.

Please click here to download BizFinx Preparation Tool before the class.

Objective

This programme covers the filing requirements and usage of the BizFinx filing system (including the new taxonomy) to prepare and upload the Financial Statements.

Outline

• Introduction - BizFinx filing system
• Introduction to XBRL Fundamentals
• ACRA Taxonomy and its Scope
• BizFinx Preparation Tool
• How to install preparation Tool
• Preparation Flow within the Tool
• How to complete the Scoping Questions and what to watch up for
• Understanding of Filing Requirements - Under what kind of circumstances a Company need to file?
• How to import Financial Statement and the common errors made (clerical/ typographical)
• Guidance in entry of Financial Statements into Templates
• Auto Tagging & Manual entry
• How to Validate and Generate XBRL files and Rectify Genuine & Possible Errors (if any)
• Common Mistake Made in XBRL Filing
• How to Save (in both Word and XBRL format) and Upload Financial Statements on BizFinx Portal
• Walk thru the User Manual

A company Financial Statement (Sample data) to demonstrate the entry in XBRL, from the initial creation to the saving of financial statements.
When entering financial statements, two modes of data entering will be covered:

• Data entry
• Editing the illustrative sample

This one-day training comprises theory and practical sessions. Participants will have an opportunity to have hands-on experience in using the XBRL to prepare financial statements.

Who should attend

All accounting and finance professionals of Singapore Companies.

Methodology

Application-level learning:
- Concepts > Facilitated thru Lecturing (10%)
- Procedures > Facilitated thru Practical Doing (80%)
- Principles > Facilitated thru Coaching (10%)

Testimonials

- Objectives were clear & Helpful
- Hands-on Learning & Applicable
- Knowledgeable & share his experiences so it's quite related
Sun-Wa Technos Singapore Pte Ltd

Profile of Wong Suet Yin

Expert Speaker
CPA Singapore

Suet Yin graduated from the National University of Singapore with an accounting degree and is a member of the Institute of Singapore Chartered Accountants (ISCA). She has more than 20 years of working experience in the areas of accounting, tax, project management and training, and has held several management positions with large MNCs.

Suet Yin is very passionate in training and is always ready to share her knowledge with others. She also customises her training to suit individuals’ and their corporations’ requirements. She adopts a pragmatic real world approach during training and believes in making her training fun and enjoyable.