IFRS for SMEs Section 21 Provisions and Contingencies 2020

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.

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.

PRICE

Adhoc – R475

Subscription Package – N/A

CONTENT

Study Unit 1

Introduction to IFRS for SMEs Section 21 Provisions and Contingencies

Study Unit 2

What is excluded from the definition of “provision”?

Study Unit 3

Recognition of provisions – How and when?

Study Unit 4

Initial and subsequent measurement of provisions.

Study Unit 5

How to disclose provisions in the AFS

REQUIREMENTS

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).

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
• Recorded webinar that includes an expert presenter and participant interaction