Accountants’ Discussion Forum: Uncovering Financial Agreements: Comparing Leases, Instalment Credit, and Sales – September 2024

What you will learn

By attending this discussion forum, you will be:

• Identify  the features of a finance lease for IFRS purposes
• Identify the features of a finance lease for IFRS for SME purposes
• Identify the features of a sale and lease under common law
• Identify the income tax consequences for both parties
• Identify the VAT consequences for both parties

Description

Understanding the nuances of financial agreements is crucial for accountants who must navigate the complex landscape of leases, instalment credit, and sales. This webinar will delve into the intricate differences in definitions across various frameworks—IFRS, IFRS for SMEs, Income Tax, VAT, and common law—emphasising why terminology is not just important but essential in accurately interpreting and applying these standards. The session aims to provide clarity on how these differences impact financial reporting, tax obligations, and compliance  

Content:

The following topics are under discussion for this month:

• What is a finance lease per IFRS 16
• What is a lease per IFRS for SME’s
• How to account for sales and leases per the Income Tax Act
• What is an instalment credit agreement per the VAT Act

Price

The following pricing apply:

Ad hoc: R304.00 for this webinar

Subscription: Included for free in Accountant in Practice, Accountant in Practice plus Tax, Bookkeeper and QuickUpdate packages.

Requirements

There are no preconditions for this course.

Moderate level.
Recorded webinar made available on a specified date

Presenter

Caryn Maitland CA(SA) 

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002.

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  

Carmen Westermeyer CA(SA) 

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then. In 2008, she was appointed lecturer at UKZN and coordinated the Taxation 300 course until December 2010. She then took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme. 

In December 2012 Carmen started running ad hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the FASSET Budget and Tax Update in 2015 and 2016.

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