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IFRS for SMEs Section 21 Provisions and Contingencies 2020

In this webinar, we delve into the most important principles relating to the accounting treatment of liabilities in the annual financial statements

R 475
Category Accounting
Accredited SAIBA
CPD Hours 2
Effort 2 Hours
Duration 2 Hours
Format Webinar
Level N/A
Assessment Yes
Supervised No
Pre-Entry No
Tuition Optional
Study Material No

What you will learn

By the end of this event the participant should: 

  • Understand the scope of IFRS for SMEs Section 21 Provisions and Contingencies. 

  • Understand how and when to recognise provisions in the AFS; 

  • Know how to measure provisions initially and subsequently; 

  • Understand how to disclose provisions in the AFS; and 

  • Know how to practically apply the Standard as a whole.

Study Units

Introduction to IFRS for SMEs Section 21 Provisions and Contingencies

What is excluded from the definition of "provision"?

Recognition of provisions – How and when?

Initial and subsequent measurement of provisions.

How to disclose provisions in the AFS

Requirements

Who should attend 

The following persons will benefit from attending this webinar: 

  • Professional Accountants including: RA(SA), CA(SA),PA(SA) and BAP(SA); 

  • Accounting officers;  

  • Tax practitioners; and 

  • Bookkeepers. 

Description

Several important principles and considerations exist relating to the recognition of provisions and the disclosure of contingent liabilities / assets in the annual financial statements. The recognition of a provision is not a matter of choice and should be carefully considered.  

Section 21 of the IFRS for SMEs Standard titled Provisions and Contingencies fully covers how this is to be done correctly. Contingent liabilities and contingent assets are both covered in this Standard.   

In this webinar, we delve into the most important principles relating to the accounting treatment of liabilities in the annual financial statements.  

Join Anton van Wyk M.Com, CA(SA) on 18 February 2020 as he explains what IFRS for SMEs Section 21 Provisions and Contingencies is all about.

This webinar is part of a series on IFRS for SMEs. The series will cover selected IFRS for SMEs topics that every accounting professional should fully understand in their day to day work. If you are interested in booking for the entire series, click here.  

DATE

  • THIS WEBINAR RECORDING WILL BE AVAILABLE FROM 25 FEBRUARY 2020

About the presenter 

Anton van Wyk M.Com, CA(SA) 

Anton van Wyk is a chartered accountant and independent consultant in International Financial Reporting Standards (IFRS and IFRS for SMEs). As former subject head of Financial Accounting at various higher education providers (including the University of Johannesburg and Monash University South Africa), he has gained valuable insights into and understanding of the important principles underlying the International Financial Reporting Standards (IFRS).