Webinar Training Course

IFRS – IAS 1 Presentation of Financial Statements

Price: Firm/Group/Company - R900.00 (VAT Incl.)
Individuals - R300.00 (VAT Incl.)
Price (MLU Subscriber): Firm/Group/Company - R776.25 (VAT Incl.)
Individuals - R258.75 (VAT Incl.)
Presenter: Mr Tristan White
Date: 14 Dec '21
Times: 09h00-12h00
Duration: 3
CPD Hours: Attending the course and successfully completing the post-assessment, will grant you 3 hour/s verifiable CPD, recognised by the various professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc). Please note that the CPD certificate will only be issued once the post-assessment has been completed.
Platform: Web Based (Online)
Contact Person: Tristan White
T:  011 886 1395
E:  gillian@probetatraining.co.za
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IFRS / IAS standards assist in identifying and recognising business transactions for accounting purposes, and the required reporting of those transactions in a set of financial statements. This session focuses on IAS 1, highlighting various aspects of financial statements, and what needs to go into an IFRS set, including: • the requirements in preparing each individual statement i.e., balance sheet, income statement, notes, etc. • underlying principles, like going concern, the need for comparatives, inter alia, • structure / form / minimum content of individual statements, and • other disclosures, for example, judgement and estimation uncertainty, dividends, amongst others

IAS 1 provides guidance in preparing IFRS-compliant financial statements, and the relevant content covered in this session includes: • Pervasive principles: o Going concern, accrual basis, comparatives, fair presentation, materiality and aggregation • Minimum statements included in a set of financial statements, and the minimum required line items within each statement, for: o Balance sheet, o Income statement, o Statement of changes in equity, and o Notes to the financial statements o NOTE: Statement of cash flows is dealt with separately in IAS 7 • Accounting policy elections in terms of statements to be presented • Other key disclosures, o Judgement / key assumptions o Dividends o Entity particulars • Appropriate terminology / naming convention used in financial statements NOT COVERED: Statement of Cash Flows as it is dealt with separately under IAS 7

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