Webinar Training Course

IFRS for SMEs 6 – Revenue and Leases

Price: Firm/Group/Company - R2558.75 (VAT Incl.)
Individuals - R759.00 (VAT Incl.)
Price (MLU Subscriber): Firm/Group/Company - R1920.50 (VAT Incl.)
Individuals - R575.00 (VAT Incl.)
Presenter: Mr Tristan White
Date: 11 Jun '24
Times: 09:00 - 12:00
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
T:  011 886 1395
E:  gillian@probetatraining.co.za
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Our plan with Revenue is to get hands on with the accounting requirements. We are looking to come alongside you and work our way through a broad range of mini-case-studies, that will help you address the practical application of the revenue requirements for sale of goods, rendering of services, construction contracts and passive income related revenue. The examples will focus on applying recognition criteria, carrying out measurement calculations and accounting for the debits and credits that embody a revenue transaction. Lease accounting focuses on how to treat assets that are given to or received from other parties, on a right-to-use basis, for a set period. A key point of difference in the accounting for a lease relates to who you are in a given lease transaction, i.e., are you a lessor or a lessee? Join us as we look at the accounting on both sides (lessor VS lessee), as well as for both types of leases (finance VS operating).

We seek to empower you as an accountant in finance as well as auditor / reviewer in public services, by: • Identifying when a business is required / permitted to apply the requirements of a section • Establishing what the requirements are / guidance is per section, relative to: o Definitions o Recognition o Initial and subsequent measurement • Discussing any accounting policy elections available • Identifying the disclosure requirements and where possible, providing illustrative examples

• Section 23: Revenue o Identifying a revenue stream (e.g. Sale of goods or rendering of services), with examples o Recognition of each stream, with examples o Measurement of revenue transactions, with examples o Disclosure • Section 20: Leases o Classification: Finance VS Operating o Measurement: Initial + Subsequent o Lessor: Finance VS Operating Lease, using examples o Lessee: Finance VS Operating Lease, using examples

This series is aimed at accountants in business applying IFRS for SMEs in preparing their financial statements; as well as, auditors of clients adopting IFRS for SMEs as their accounting framework, so as to equip accountants and auditors to better identify and assess the application of the framework. This session will assist the following professionals: • Financial accountants and managers • Auditors • Audit managers and partners • Bookkeepers • First, Second and Third year SAICA Trainees • Engagement Quality Control Reviewers.