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IFRS for SMEs

Individuals: R 632.50 (Incl. VAT)

CPD Hours: 2.5 hrs

Presenter: Tristan White


Overview:

When an entity - Makes mistakes in their financial statements - Decides to change their accounting policies, for e.g., going from Revaluation model to Cost model for PPE, or - Re-estimates a useful life or residual value, amongst other estimates, o These events will all trigger the requirements of Section 10 of IFRS for SMEs, and management will be obliged to consider its implications.


Course Content:

Section 10�s requirements will be simplified in terms of the following: � Selection and application of accounting policies o Consistency and changes of accounting policies o Disclosures related to changes in accounting policies � Changes in accounting estimates and disclosures that accompany changes � Errors and disclosures that are required because of discovering errors


Course Objective:


Who Should Attend?

☒Financial managers ☒Auditors ☒Bookkeepers ☒Financial accountants ☒Audit managers ☒Audit partners ☒Engagement Quality Control Reviewers

Individuals: R 517.50 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

Related parties are likely to be an IRBA inspections finding or an area that management as well as auditors put very little thought to, when preparing and auditing a set of financial statements. Join us as we help you ensure - As preparers / management, that you are compliant with the IFRS for SMEs requirements, so that you can be better prepared for the next AFS compilation - As auditors, that you hold your clients to the correct disclosure requirements


Course Content:

� This session will address the following: o Who is a related party? o What is a related party transaction / balance? o Do all transactions with related parties need to be disclosed? o What director�s remuneration-related disclosures are required? o What needs to be disclosed? o Examples of disclosures


Course Objective:


Who Should Attend?

☒Auditors ☒Financial accountants ☒Audit mangers ☒Audit partners ☒Engagement Quality Control Reviewers

Individuals: R 690.00 (Incl. VAT)

CPD Hours: 3 hrs

Presenter: Tristan White


Overview:

An often-neglected statement within a set of annual financial statements, is the Statement of Cash Flows. Many auditors don�t know their responsibilities around this statement or what the requirements are for presentation. Similarly, preparers of financial statements are seemingly unfamiliar with the options available when presenting a statement of cash flow and what needs to be contained therein. This session will help you align with the financial reporting requirements when preparing a cash flow statement.


Course Content:

� This session will address the following: o Are all entities required to prepare a cash flow statement? o What is a cash and cash equivalent? o What constitutes operating activities, and what options for presentation / calculation are available? o What is included in investing activities? o What will need to be considered as part of financing activities? o Examples of presentation


Course Objective:


Who Should Attend?

Financial managers Auditors Bookkeepers Audit managers Audit partners Engagement Quality Control Reviewers

Individuals: R 598.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

IFRS for SMEs update May 2015


Course Content:

Major changed to IFRS for SME� _ May 2015


Course Objective:

To provide an understanding and overview of the amendments and changes to IFRS for SMEs.


Who Should Attend?

Anyone that uses IFRS for SMEs as their accounting standard

Individuals: R 598.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

Session 2 introduces some practical examples whereby accounting treatments will be explored to help visualise typical business combination /consolidation entries, goodwill calculations and other types of investments, namely associates and joint ventures.


Course Content:

Session 2: o Section 9: Consolidated and Separate Financial Statements o Section 19: Business Combinations and Goodwill o Section 14: Investments in Associates o Section 15: Investments in Joint Ventures


Course Objective:

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


Who Should Attend?

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.

Individuals: R 598.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

Session 4 is all about fixed / longer term assets. We�ll capitalise on our time together during this session by practically calculating and analysing what the journal entries for revaluation surpluses, fair value adjustments, revised depreciation / amortisation amounts and impairments are to be.


Course Content:

Session 4: Section 17: Property, Plant and Equipment Section 16: Investment Property Section 18: Intangible Assets Section 27: Impairments


Course Objective:

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


Who Should Attend?

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.

Individuals: R 598.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

Session 5 sees us journey into the income statement. We are set to get hands on with Revenue, Inventory and Leases by working through a broad range of mini-case-studies, addressing the practical application of recognition criteria, measurement calculations and accounting debits and credits.


Course Content:

Session 5: Section 23: Revenue Section 13: Inventories Section 20: Leases


Course Objective:

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


Who Should Attend?

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

Individuals: R 598.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

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 will 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.


Course Content:

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


Course Objective:

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


Who Should Attend?

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.

Individuals: R 517.50 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

Inventory is something almost all businesses have, be it in the form of consumables or goods sold by retailers, or even internally produced. Even entities providing services are required to keep track of their �cost of sales�, which is dealt with in this section of IFRS for SMEs. This session focuses on inventory from the SMEs standard, and will help you understand what cost determination methods are available, e.g. FIFO, how to calculate closing inventory based on perpetual versus periodic inventory systems, how to accumulate input costs as part of production, and finally what inventory impairment considerations apply.


Course Content:

� This session will address the following: o What types of costs may form part of inventory-costing o Measurement of cost o Inventory write-downs o Corresponding expense recognition, i.e. cost of sales o Disclosure


Course Objective:


Who Should Attend?

Auditors Bookkeepers Financial accountants Audit mangers Audit partners engagement Quality Control Reviewers Business professionals

Individuals: R 632.50 (Incl. VAT)

CPD Hours: 2.5 hrs

Presenter: Tristan White


Overview:

With the uncertainty around COVID-19, many businesses are facing financial peril with liabilities that cannot be met and unfulfilled contracts that could lead to financial losses. Section 21 Provisions and Contingencies will help us account for potential liabilities and consider the impact of onerous contracts. Section 32 Events After the Reporting Period becomes relevant when dealing with situations that have arisen after year end, that could have a retrospective effect on current year financial statements.


Course Content:

Section 21: Provisions � Definitions for Provisions, Contingent Liabilities, Onerous Contracts � Recognition � Measurement � Disclosure requirements Section 32: Events After Reporting Period � Definitions for Adjusting VS Non-adjusting events � When to recognition VS disclose VS ignore


Course Objective:


Who Should Attend?

☒Financial managers ☒Auditors ☒Bookkeepers ☒Financial accountants ☒Audit mangers ☒Audit partners ☒Engagement Quality Control Reviewers

Individuals: R 598.00 (Incl. VAT)

CPD Hours: 2 hrs

Presenter: Tristan White


Overview:

Journeying into the income statement we must ask ourselves, is Section 23 Revenue affected by the new IFRS 15 Revenue standard? Join us as we are set to get hands on with Revenue, by working our way through a broad range of mini-case-studies, addressing the practical application of recognition criteria, measurement calculations and accounting debits and credits. We will look at the following revenue streams: - Rendering of services, - Sale of goods, - Construction contracts and - Passive income


Course Content:

� Identifying a revenue stream, with examples � Recognition of each stream, with examples � Measurement of revenue transactions, with examples � Disclosure


Course Objective:

None

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