Session 6 concludes our SMEs series. The plan for this session is to spend time doing basic calculations of current tax and deferred tax in the South African context, to illustrate the principles from the standard. We’ll refine our knowledge further by taking a look at various forms of Employee Benefits (salaries expense) through the lense of practical examples and finally round up with a brief look at Related Party disclosures.

We seek to empower you as a professional accountant in accounting and audit by: • Establishing a practical understanding of the standards / sections • Helping you understand why transactions are accounted for the way they have been • Simplifying the financial statement reporting process by breaking down the presentation and disclosure requirements

Session 6: • Section 29: Income Tax • Section 28: Employee Benefits • Section 33: Related Party Disclosures

• Accountants in business whose firms have adopted IFRS for SMEs as the accounting framework. • Auditors in a South African context, so as to successfully enable them to identify and assess the application of the framework.