Q1 March Newsletter - bdo singapore
Q1 March Newsletter - bdo singapore
Q1 March Newsletter - bdo singapore
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Continued......<br />
Step Five – Secure The Deal<br />
Lastly, it is very important to address the specific<br />
negotiation issues at hand for each distributor based<br />
on the initial terms and conditions offered during the<br />
correspondence process. This is often dependent on the<br />
bargaining power of the respective parties. An important,<br />
though often overlooked tip is to fully appreciate the<br />
cultural and social aspect, and the mode of operations<br />
of these distributors while being able to provide them<br />
their needs when brokering a deal. This in turn enhances<br />
your company’s chances of obtaining the best possible<br />
outcome during the negotiation process itself.<br />
To sum up, actively engaging the five major steps above<br />
allows a business to expedite the process of securing an<br />
ideal overseas distributor in a systematic manner and<br />
achieve its long-term overseas expansion plan.<br />
How BDO Raffles can help<br />
The Management Consulting division of BDO Raffles<br />
helps clients by identifying and securing suitable<br />
business opportunities and partners to successfully gain<br />
market entry in overseas markets. Currently, it is helping a<br />
number of companies ranging from the retail, leisure and<br />
lifestyle and F&B industries to secure overseas partners<br />
in both Asia and Europe.<br />
Should you like to find out more about how we can help<br />
you in your internationalistion efforts, please do not<br />
hesitate to contact our Management Consulting Division<br />
at weehan@<strong>bdo</strong>.com.sg<br />
Article contributed by:<br />
Leo Kah Mun<br />
Manager<br />
Management Consulting<br />
Services<br />
DID: 68289603<br />
kahmun@<strong>bdo</strong>.com.sg<br />
Are you ready for<br />
FRS 108 Operating<br />
Segments?<br />
A number of new or revised financial reporting standards<br />
have been issued in recent years which will take effect<br />
for annual periods beginning on or after 1 January 2009<br />
and they may or may not have implications on your<br />
company’s accounts. One of them relates to FRS 108<br />
Operating Segments which will supersede FRS 14 Segment<br />
Reporting.<br />
FRS 108 aims to present more relevant information to users<br />
by mirroring information used internally by chief operating<br />
decision makers to manage segments to those disclosed in<br />
the financial statements. Consequently, FRS 108 provides<br />
more flexibility in disclosure requirements.<br />
Consistent with FRS 14, FRS 108 is applicable to entities<br />
whose equity or debt securities are publicly traded<br />
and those that file, or are in the process of filing, their<br />
financial statements with a securities commission or<br />
other regulatory organisation for the purpose of issuing<br />
any class of instruments in a public market. Similarly, only<br />
consolidated segment information is presented when both<br />
the separate and consolidated financial statements of the<br />
parent company are presented in a single financial report.<br />
Contrary to FRS 14 which requires the identification of<br />
primary and secondary segments based on the definitions<br />
given, FRS 108 adopts the “management approach” by<br />
requiring the entity to disclose segment information based<br />
on components of the business that management uses to<br />
make decisions about operating segments.<br />
In addition to the differing approach undertaken, FRS 108<br />
also differs from FRS 14 in other requirements including<br />
the following: