Shipping Accounting & Financial Reporting

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17 May 2021, Monday - 18 May 2021, Tuesday

09.00AM - 05.00PM
M Hotel, Singapore

Details/ Promotion:
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Accredited tax professionals enjoy 20% off! 
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Programme Synopsis

Heavily influenced by international trade environments, the shipping industry is capital-intensive; comprising a vast network of closely interconnected stakeholders ranging from leasing banks, shipowners, ship operators, major commodities traders to ship builders, equipment providers. Whilst capital expenditure, operating cost, earning and revenue are immensely sensitive to numerous factors such as economic recessions, Covid-19 disruptions on demands & logistics, trade risks, charter income, fuel prices; the financial & accounting professionals require informed judgements to answer a range of complex questions.

Hands-on and practical, this masterclass dwells in the most relevant challenges shipping players face in the current climate of uncertainty – including revenue recognitions, assessment of impairment indicators, liquidity & concentration risks, consolidation & joint arrangement, access to equity & debts, among many more; and most importantly, the impacts of Covid-19 on all aforementioned areas.

Programme Outline

A Highlight of Key Areas:

  • Covid-19 particular considerations on accounting & financial reporting
  • In-depth Analyses of the 5-step model of recognising revenue for Shipping & Maritime sectors
  • Accounting & reporting issues relating to ship management, shipbuilding and retrofits
  • Issues relating to asset acquisition, divestitures and merger/acquisitions
  • Accounting for Leasing and Sale-Leaseback Transactions
  • Hedge accounting in shipping industry
  • Deferred taxes and recognition of taxes in shipping industry
  • Assessment of costs that can be capitalised
  • Shipping Asset Depreciation and Residual Value
  • Impairment of Non-Financial Assets
  • Other amendments Relevant to the Shipping Industry – Effects, Exemptions and more
  • Group Accounts Consolidation and Joint Arrangements

About the Presenter(s)/ Trainer(s)

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Mr Chetan Hans
Director, Financial Reporting Advisory Services
Grant Thornton

Chetan has more than 14 years of experience in servicing large national and multinational clients in the areas of Assurance, Indian GAAP, US GAAP and IFRS technical accounting advisory, specifically in the areas of financial instruments, leases, consolidation, revenue recognition and business combinations.

Chetan has extensive international experience on advising clients on IFRS and US GAAP in India, United Kingdom and United States. Chetan has expertise in:
  • Advising on technical accounting under IFRS and US GAAP; 
  • Conduct IFRS and technical accounting trainings on IFRS 15, IFRS 16 and IFRS 9 for clients and finance teams of major corporates in India and Nepal; 
  • Experience of various technical topics like leasing, revenue recognition, embedded derivatives, consolidation, joint ventures, service concession arrangements; 
  • Diverse industry and international experience including working with and within teams from India, United States, United Kingdom, Middle East, Romania, Singapore.
  • Professional qualifications and memberships 
  • Association of Chartered Certified Accountants (UK) 
  • Chartered Financial Analyst (US) 
  • B.Com (Hons), University of Delhi


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