Issue no. 58
(1 June 2005)		 www.hkicpa.org.hk change login id / password
    Dear Members/Member Practices,
In this issue
Survey on HKFRS Implementation

How to Read Financial Statements

Advance Standing for CPAs

TechWatch Issue 33
Share-based Payments
Accounting Practice Health Check
For Your Information
Survey on HKFRS Implementation
A
s mentioned in last week's e-circular, we would like to know how the convergence of HKFRS with IFRS has affected you. Please
click here to join this quick online survey, the results of which will be announced at the Institute's Financial Reporting Standards Inaugural Forum on 9 June.
How to Read Financial Statements
T
une in to Cable TV News Channel 1 at 8:20 p.m. every Monday to see the programme "CPA ±Ð§AÚ»½L¼Æ" with fellow CPAs
explaining a range of accounting subjects, including preparation of financial statements, goodwill amortization, contingencies and liability. The programme is part of the Institute's public education on how to read financial statements. The first show aired on 23 May and it will run for a total of 12 weeks. It will be replayed at 10 p.m. and other times in the evening.
Advance Standing Awarded to CPAs
T
he Institute is pleased to announce that its membership qualification has gained advance standing from 13 Masters
Programmes offered by seven universities and institutes. Members will be granted exemptions when taking these programmes. Please click here for more details.
TechWatch Issue 33
T
he latest TechWatch announces the Financial Reporting Standards Forum followed by the CEO & CFO Roundtable
Luncheon on 9 June, the CPD programme for June/July, the findings on review of published accounts, the release of a host of new and revised professional pronouncements and invitations to comment on proposed professional pronouncements. It also features the Institute's submissions on public consultation documents and proposed revisions to ISAs.
Comments Sought on Share-based Payments
T
he Institute has issued an Invitation to Comment on the IFRIC Draft Interpretations: D16 Scope of IFRS 2 and D17 IFRS 2 - Group and Treasury Share Transactions.
Comments are requested by 4 July 2005.
The proposed Interpretation D16 aims to clarify that transactions within the scope of IFRS 2 Share-based Payments include those in which the entity cannot specifically identify some or all of the goods or services received.
The proposed Interpretation D17 aims to give guidance on whether share-based payment transactions involving treasury shares, or two or more entities within the same group of entities should be accounted for as cash-settled or equity-settled share-based payment transactions under IFRS 2.
360¢X Health Check on Your Accounting Practice
Do you want to help your practice grow?

How are your profits compared to industry average?
What's new in practice development?
Use I.T. to enhance practice efficiency.
Find and retain qualified staff.
Come to the Dinner Forum on 23 June to share your views on practice management and participate in the SMP Benchmarking Survey.
For Your Information
The Hong Kong Polytechnic University is now offering the Master of Professional Accounting / Postgraduate Diploma in Professional Accounting. The masters programme offers up to 50 percent exemption on subjects to Institute members. Please click here for details.
If you require any technical assistance on this transmission, please do not hesitate to contact any of the following staff:

  Telephone no. E-mail address
Mr. Andrew Wong 2287 7245 andrew@hkicpa.org.hk
Mr. Tomas Chan 2287 7041 tomaschan@hkicpa.org.hk
Ms. Vian Tai 2287 7224 vian@hkicpa.org.hk
Mr. Kelvin Chiu 2287 7096 kelvin@hkicpa.org.hk

This email together with the file(s) transmitted is intended solely for addressee(s) only and may contain confidential and/or privileged information. If you received this email in error, please contact the sender and delete it together with its attachment(s) from your computer(s). You should note that the views and opinions expressed in this email are those of the author and do not necessarily represent those of the Hong Kong Institute of Certified Public Accountants. The recipient should check this email and all attachments for the presence of virus. The Institute will not accept liability for any damage caused by any virus transmitted with this email.