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The Philippine Institute of Certified Public Accountants (PICPA) Doha LLC (G) conducted a 2-in-1 Seminar on the twin topics of “Blockchain and Big Data Overview” and “IFRS Update: IFRS 15 – Revenue from Contracts with Customers” -- at the La Cigale Hotel, recently.
The speakers during the first seminar were Richard B. Ali, CPA, CMA and Froilan O. Chua, CPA, CIA, CFE, CFSA. The seminar focused on the basics of Blockchain Technology, the key terms and concepts when discussing Blockchain, its potential global impact and how it will be applied to business. Moreover, the advantages of Big Data were also discussed such as how it will guide the companies to make business decisions using patterns, correlations and trends.
Both speakers stressed that Blockchain and Big Data are the next big things in finance, and the rapid growth of these two emerging new technologies is part of the ‘New Industrial Revolution’. Ali added, “Blockchain and Big Data open up new investment opportunities and may help everyone discover possible life-changing career.”
The second seminar about the updates on IFRS 15 – Revenue from Contracts with Customers— was led by Director in Assurance Service of Ernst and Young Qatar, Clint Daniel S. Fadera. The seminar tackled the scoping of IFRS 15, specifically the ‘five step model’ in revenue recognition. Furthermore, Fadera also discussed the required disclosures on the financial statements and the common challenges that finance professionals are encountering right now during the implementation, as the updates to the standard have been already applicable since January 1, 2018.
The seminars concluded with the remarks of Elmer H. Espiritu, PICPA Doha LLC (G) Senior Vice President and Sharon C. Dela Cruz, the organisation’s President, respectively. For more information about all the upcoming events of PICPA Doha LLC (G), please visit www.picpadoha.org.
The speakers during the first seminar were Richard B. Ali, CPA, CMA and Froilan O. Chua, CPA, CIA, CFE, CFSA. The seminar focused on the basics of Blockchain Technology, the key terms and concepts when discussing Blockchain, its potential global impact and how it will be applied to business. Moreover, the advantages of Big Data were also discussed such as how it will guide the companies to make business decisions using patterns, correlations and trends.
Both speakers stressed that Blockchain and Big Data are the next big things in finance, and the rapid growth of these two emerging new technologies is part of the ‘New Industrial Revolution’. Ali added, “Blockchain and Big Data open up new investment opportunities and may help everyone discover possible life-changing career.”
The second seminar about the updates on IFRS 15 – Revenue from Contracts with Customers— was led by Director in Assurance Service of Ernst and Young Qatar, Clint Daniel S. Fadera. The seminar tackled the scoping of IFRS 15, specifically the ‘five step model’ in revenue recognition. Furthermore, Fadera also discussed the required disclosures on the financial statements and the common challenges that finance professionals are encountering right now during the implementation, as the updates to the standard have been already applicable since January 1, 2018.
The seminars concluded with the remarks of Elmer H. Espiritu, PICPA Doha LLC (G) Senior Vice President and Sharon C. Dela Cruz, the organisation’s President, respectively. For more information about all the upcoming events of PICPA Doha LLC (G), please visit www.picpadoha.org.
