Available Course
IFRS for SMEs One Day Overview
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| Duration: | 1 Day |
| CPD Hours: | Attendance at this seminar will secure 6.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc) |
| Course Facilitator: |
Tristan White
T: 0118861395 E: nerissa@probetatraining.co.za |
| Back | |
As accountants and auditors, you may see many transactions flowing in and out of a business and what may happen, is that you get into a habit of accounting for / interpreting transactions in a particular way, or as auditor, you may find that you are leaning heavily on your client’s application of the accounting principles.
In either case, you may be doing so without applying your mind in following what the IFRS for SMEs standard requires.
We want to help refresh your understanding with a high level overview of several IFRS for SMEs sections related to transactions that tend to be commonplace in business. Lets get the basics right.
Aside from this, IFRS for SMEs has undergone its third proposed revision during 2022, and some of these changes may have an impact on your approach to accounting for transactions in future. We will highlight the relevant changes during the discussion.
TBA
We will spend between 20 to 30 minutes on a topic
Approach:
• Help you better identify when a particular standard is relevant to a
transaction i.e., we’ll briefly consider scoping and definitions
• Simplify recognition criteria
• Clarify initial and subsequent measurement
• Discuss any proposed amendments related to a section
Topics covered:
General:
- Section 3: Financial Statement Presentation
- Section 7: Cash Flow Statement
- Section 8: Notes to the Financial Statements
- Section 10: Accounting Policies, Estimates and Errors
Assets:
- Section 17: Property, Plant and Equipment
- Section 13: Inventory
- Section 27: Impairment
- Section 11: Financial Instruments
Liabilities:
- Section 21: Provisions and Contingencies
- Section 20: Leases
Income Statement
- Section 23: Revenue
Disclosure:
- Section 33: Related Parties Disclosure
- Section 32: Events After Reporting Period
☒Audit mangers
☒Audit partners
Engagement Quality Control Reviewers
Financial managers
Auditors
Bookkeepers
Financial accountants