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.
We will spend between 20 to 30 minutes on a topic
Approach:
Topics covered:
Day 2:
General:
Assets:
Liabilities:
Income Statement
Disclosure:
None
Day 2 of 2
