Virtual Training Course

Compiling financial statements using Draftworx

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This Course is not part of the MUS Subscriber discount structure.

Price: R1610.00 (VAT Incl.) Per Person
Presenter: Ms Yvonne Rossouw
Date: 19 Jan '22
Times: Registration:08H00 Start:08H30 End:16H00
Duration: 1 Day
CPD Hours: Attendance at this seminar will secure 6.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Platform: Web Based (Online)
Course Facilitator: Yvonne Rossouw
T:  011-886-1395
E:  nerissa@probetatraining.co.za
Alternative Dates: 13 Jun '22
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One of the most important functions of audit and accounting firms are to compile financial statements. These financial statements play a vital role in the auditing and review function and are used by companies to apply for financing and to provide information to stakeholders. As such it is imperative that employees who compile financial statements have the understanding of how this is done, and if it is an independent compilation engagement, what rules to follow. The purpose of this course is to teach delegates what are the requirements of a compilation engagement so that the report that is signed off by the compiler is appropriate and in line with all the requirements. It will also include important items that must be included on the financial statements in terms of the Companies Act and IFRS for SME. During this course delegates will be receiving a theoretical knowledge of ISRS4410, as well as practical knowledge on how to compile financial statements on Draftworx.

Delegates will be provided with a trial balance that is prepared by a client, as well as all the background information necessary in order to obtain sufficient knowledge regarding the client, including excel working papers for adjustment calculations. They will then need to prepare the financial statements based on IFRS for SME. The following compilation engagement items within Draftworx will be covered: • Importing Trial balance • Linking the trial balance (Not a detailed discussion on linking but a quick overview) • Terms of engagement and engagement letter • ISQC1 requirements such as acceptance and continuance of client • Ethical requirements in terms of the code of conduct • How to obtain information on the client • Practitioners report • Passing journals • The annual financial statements

Auditors Bookkeepers Financial accountants First year SAICA Trainees Second year SAICA trainees Third year SAICA trainees Fourth year SAICA trainees Fifth year SAICA trainees