Drafting Financial Statements (IFRS for SMEs) 2024

Available from

28 March, 2024

CPD

3

Course Category:

Financial Reporting

The aim is to address the status of the Exposure Draft for IFRS for SMEs and update participants on the current IFRS for SME Standard, providing a comprehensive refresher to enhance their understanding. March 2024

 

Category: Financial Accounting

R 375 VAT Incl.

Product Information

What you will learn

Attending this webinar will equip you with the following skills:

  • Be refreshed on the key elements that all financial statements cover such as revenue and property, plant and equipment.
  • Evaluate the messaging conveyed to financial statement users through narrative notes, emphasizing effective communication of key information.
  • Gain awareness of significant areas identified for potential changes under the IFRS for SME Accounting Standard exposure draft, assessing the potential implications for their clients and companies. 
  • Examine indicators of going concern and other non-financial disclosures, recognizing areas that may necessitate additional attention and consideration. 
  • Scrutinise the financial statements being prepared, ensuring alignment with user objectives and meeting their needs effectively. 

 

Description

The IFRS for SMEs is applicable to entities lacking public accountability, allowing them to issue general purpose financial statements. This category encompasses the majority of Small, Medium, and Micro-sized Enterprises (SMMEs), as well as Non-Profit Organizations (NPOs) and Public Benefit Organisations (PBOs). 

In line with its responsibility for regular review and modification of standards, the International Accounting Standards Board (IASB) has released the Exposure Draft for the Third edition of the IFRS for SMEs Accounting Standard. This webinar provides an in-depth exploration of the existing Standard and the Exposure Draft, emphasizing the anticipated advantages for users of financial statements from Small and Medium-sized Enterprises (SMEs).  

 

Price

The following pricing apply:

Adhoc: R375.00

Subscription: Included for free in Accountant in PracticeAccountant in Practice plus Tax.

 

Content

The webinar will cover the following topics: 

  • IFRS for SME 2025 version (various sections)
    • General overview.
    • When to use this Standard.
  • IFRS for SME Accounting Standard Exposure Draft (various sections)
    • Assets e.g PPE and investment property.
    • Trade receivables.
    • Trade payables.
    • Asset impairment.

 

Certificate

The following CPD is awarded 3 Units Financial Reporting.

 

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 registered auditor and chartered 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.

 

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