FAAS Senior Manager discusses PFRS 9 with ASEFEX at PSECE 2019

SGV Financial Accounting Advisory Services (FAAS) Senior Manager Anna Maria Rubi Diaz spoke on how to apply PFRS 9 (Financial Instruments) in a manufacturing set-up during a breakout session at the 16th Philippine Semiconductor Electronics Convention and Exhibition (PSECE) held last 30 May 2019 at the SMX Convention Center, Pasay City. The event was organized by the Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI). The objectives of the PSECE, which is held annually, include enhancing the technical capabilities of electronics and semiconductor companies in the Philippines by providing a venue for meetings and discussions on matters relevant to the industry, and industry-focused product and service exhibits, with local and international participation.

Rhia’s breakout session featured a refresher course on PFRS 9 changes focusing on Classification and Measurement (C&M) and Expected Credit Loss (ECL), related business considerations and the challenges of adopting the new standard specific to the manufacturing industry. The main participants of the session were members of the Association of SEIPI Finance Executives (ASEFEX).

After the session, Rhia was presented with a certificate of appreciation by William Garcia, ASEFEX Chairman, and Felix Halili, ASEFEX Vice Chairman.