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XBRL filing with the CIPC

Guide for Business Accountants in Practice (SA) on filing on the CIPC's platform using the XBRL format

R 475
Category Law
Accredited SAIBA
CPD Hours 2
Effort 2 Hours
Duration 2 hours
Format Webinar
Level Moderate
Assessment Yes
Supervised No
Pre-Entry No
Tuition Mandatory
Study Material No

What you will learn

By the end of this webinar the participant should:  

  • Understand what XBRL is. 
  • Understand which companies must file using XBRL. 
  • Understand how to file AFS in the XBRL format. 
  • Understand the role of accountants vs auditors in filing XBRL. 
  • Know the filing deadlines and penalties for non-submissions. 
  • Get answers to FAQs on XBRL. 

Study Units

XBRL defined

What is the differences between:

  • XBRL Annual Financial Statements (AFS);and
  • XBRL  Financial Accountability Supplement (FAS)

Tagging financial statements using XBRL:

  • At entity level. 
  • At engagement level. 

Tagging income and expenses prior to filing:  

  • Using available accounting software. 
  • Using MS Excel. 

Creating sub-classifications of assets, liabilities and equities: 

  • Using available accounting software.
  • Using MS Excel. 

XBRL challenges vs opportunities

Deadlines and penalties for incorrect or late submissions. 

How does auditor independence affect filing obligation? 

Do XBRL financial statements need to be audited? 

Other FAQs on XBRL.

Requirements

  1. There are no preconditions for this course.   
  2. Moderate level. 
  3. Recorded webinar made available on a specified date

WHO SHOULD ATTEND? 

The following members will benefit from attending this webinar: 

  1. Business accountants in Practice (SA). 
  2. Accounting officers;   
  3. Tax practitioners; and  
  4. Bookkeepers.

Description

The introduction of the XBRL filing format by the CIPC on 1 July 2018 simplified the filing process for annual returns. However, some common questions are still being asked by stakeholders. 

What type of entity is required to file annual financial statements (AFS) with their annual returns?  Who is supposed to submit the financial accountability supplement (FAS)? Are dormant companies automatically exempt from filing? 

Nestene Clausen CA(SA) will be presenting a webinar that will take you through how to file AFS and annual returns using XBRL. During this webinar, Nestene will go through the filing process and also address common questions on XBRL.  

PRICE         

The following pricing apply: 

  • Ad hoc: R475.00  
  • Subscription: Not applicable* 

DATE 

This webinar will be available from 30 April 2020. 

PRESENTER 

Nestene Clausen CA(SA)  

Nestene completed her B.com (Hons) at North West University in 2012. In 2014 she completed her professional articles andMasters Degree and is a qualified CA(SA). 

Nestene has lectured on the audit programme at the University of Cape Town. She successfully helped to establish a branch for Real Time Accounting in Tableview where her role was to evaluate, improve & implement a brand building & marketing strategy for the RTA brand. After this stint at RTA, Nestene started her own audit, tax & accounting practice which she has since grown into a reputable firm in the Tableview area with 60 clients and two staff members.  

ADDITIONAL MATERIAL

By attending this webinar, you will be provided with:  

  • Summarised slide presentation 
  • Reference documents and / or course material where available 
  • Access to a technical knowledge base

WHICH SUBSCRIPTION?

This event is included in the following subscription packages. If you are not a subscriber you need to purchase as a stand-alone event.   

Accountant in Practice: No 

Accountant in Practice plus tax: No 

Bookkeeper: No 

Quickupdate: No 

IFRS for SME's: No

HOW TO SUBSCRIBE? 

Subscribers pay less for their CPD points. SAIBA offers 4 subscription packages that provides access to everything to run a successful accounting and tax practice. Pay a small monthly amount and gain access to monthly webinars covering ethics, financials, reporting, audit and assurance, working papers, law, technology, management topics, and tax. 

Click here to choose your subscription option.