Are you a compiler of financial statements? Do you perform independent compilations using CaseWare? Are you aware of the standard’s requirements? This course might be for you!
This course will provide a practical simulation of how to compile a complete set of financial statements compliant with IFRS for SME's using ISRS4410.
The purpose of this course is to teach delegates what are the requirements of a compilation engagement so that the report that is signed off by the compiler is appropriate and in line with all the requirements.
By the end of this course delegates will be able to compile a set of financial statements on IFRS for SME using CaseWare.
Please note that this is not a complete course on all the IFRS for SME principles. There will be some examples of the difference between Full IFRS and IFRS for SME, but this course is not meant to provide a full working knowledge of IFRS for SME, rather a practical knowledge of compiling the financial statements.
• Terms of engagement and engagement letter
• ISQC1 requirements such as acceptance and continuance of client
• Ethical requirements in terms of the code of conduct
• Completion of the CaseWare compilation file
o How to create a new client
o Entering client information into CaseWare (Info store)
o Importing financial data (trial balance) into CaseWare
o Mapping the trial balance
o Journal entries
o Financial statements
• Practitioners report
• Backup, saving and renaming files
• Rolling forward to next year
Delegates will be provided with a trial balance that is prepared by a client, as well as all the background information necessary in order to obtain sufficient knowledge regarding the client. They will then need to prepare the financial statements based on IFRS for SME.
The financial statements will be created, including mapping of accounts and completing the disclosure to the financial statements based on information provided and incompliance with IFRS for SME
This course is presented at a beginner and intermediate level and anyone who will need to have a working knowledge on CaseWare will benefit.
Delegates must bring their own computers with CaseWare 2018 Working Papers already loaded. All software must be fully licensed. All other material and stationery will be provided.
If earlier versions are used, the menu’s might differ and certain functions might not work.