PERS Model financial statements - AXP Solutions

ABOUT THE EDITORIAL TEAM
The editorial team of this publication consists of both AXP’s Technical Adviser and Business Partners, who
jointly possess a vast experience in financial reporting and wide exposure to the accounting industry in general.
The profile of each team member is as follows:
Keith Farmer, FCA, B.A., Technical Adviser of AXP, holds an honours degree in Economics and became a
Fellow of the Institute Chartered of Accountants in England and Wales (“ICAEW”) in January 1983. He taught
in London at the London School of Accountancy and Emile Woolf College and at the University of Essex until
he came to Asia in early 1994. He has been based in Asia ever since.
His specialist subject is Financial Accounting. He has conducted courses for both students and practitioners in
many parts of the world, including the UK, Malaysia, Singapore, Hong Kong, Kenya, and Mauritius for both
private colleges and the Association of Chartered Certified Accountants (“ACCA”). His students have
consistently won numerous prizes in the ACCA examinations.
Whilst Keith is justifiably proud of individual student performance, his key aim is to convey a fundamental
understanding of the basic principles and concepts which underlie financial accounting and a detailed
knowledge and application of the requirements of accounting standards. This is based on the three core
principles of education: instruction, demonstration and experience. Understanding is important, in fact it is a
prerequisite to developing the level of knowledge required to sit examinations with confidence and inspires
individuals to achieve far more than they ever expected in far less time than they ever anticipated.
In furtherance of achieving his aim, Keith has recently embarked upon a three point strategy. Firstly, he is
writing a series of books, primarily aimed at students, covering consolidation and accounting standards which
contain numerous progressive worked examples. Secondly, he is currently engaged in developing a series of
DVD's which, together with the books, will form an integral part of a new co-ordinated learning package.
Finally, in the near future, this learning package will be extended to a structured continuing professional
development programme.
Ivan Er Soon Lock, C.A.(M), FCCA, B.Com(NZ), is a member of the Malaysian Institute of Accountants (“MIA”)
and a fellow member of ACCA. Ivan first joined Deloitte KassimChan (“DKC”) in 1997 as an audit assistant,
and subsequently became an Audit Manager. He left DKC in 2003 to join Horwath, another international public
practice. At Horwath, he was soon promoted to become an Audit Principal.
His experience includes managing the audit and the corporate finance functions and the setting up of the
business improvement division of the practice, assisting companies listing on the stock exchange by providing
consultancy services on listing exercise and financial management, advising on good accounting and internal
control systems to a wide range of companies, provision of technical training on FRS and PERS and conducting
due-diligence review on companies in Malaysia and China. Currently, he is also an independent director of a
company listed on the MESDAQ Market of the Bursa Malaysia.
Eric Chia Kok Haur, C.A.(M), C.A.(NZ), B.Com(Hons), is a member of the MIA and New Zealand Institute of
Chartered Accountants (“NZICA”). Eric started his career as an audit assistant with DKC in 1997. He was an
Assistant Audit Manager when he left the firm to join KPMG Singapore in 2000. He was also an Assistant Audit
Manager at KPMG, where he served until 2003. From KPMG, he moved on to H W Kuah & Co., another public
practice in Singapore, as the Audit Manager.
Eric is well-versed with the financial reporting environment of both Malaysia and Singapore. In addition, as he
has spearheaded major audit assignments in China, he is also familiar with China financial reporting
requirements. His experience includes managing audit and due diligence assignments, monitoring the
budgetary function of the practice, provision of advisory services for corporate exercises and corporate
governance matters, preparation and review of published financial statements, including those of significantly
large groups of companies, and conducting training on technical subjects.