IFRS for SMEs updates and their implications on financial reporting 2024
Available from
28 May, 2024
CPD
3
Course Category:
Financial Reporting
Level:
Moderate
R 375 VAT Incl.
Product Information
What you will learn
By attending this webinar you will gain the following competencies:
- Knowledge of the current IFRS for SMEs Standard and its practical application.
- Be up-to-date with the proposed improvements contained in the Third Edition Exposure Draft.
- Have an understanding of accounting for assets, such as PPE and investment properties.
- Possess knowledge of how the Standard is applied when dealing with financial instruments, trade receivables, trade payables, and the impairment of financial assets.
- Improve your skill on disclosure in IFRS for SMEs financial statements.
Description
IFRS for SMEs applies to entities that do not have public accountability and therefore can publish general purpose financial statements. Most SMMEs fall into this category as do NPOs and PBOs. The International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) have not undergone significant updates since the issuance of the standard in 2009. However, it’s important to note that the International Accounting Standards Board (IASB) continuously monitors the effectiveness and relevance of its standards, including the IFRS for SMEs, and periodically issues amendments and updates when necessary.
Following its mandate to periodically review and amend this Standard, the International Accounting Standards Board (IASB) issued the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard. This webinar presents a detailed discussion on the current Standard as well as the Exposure Draft, highlighting expected benefits to users of SMEs’ financial statements.
Price
The following pricing apply:
Adhoc: R375.00
Subscription: Included for free in Accountant in Practice, Accountant in Practice plus Tax.
Content:
The webinar will cover the following topics:
- The IFRS for SMEs Standard (2015 edition).
- General overview.
- When to use this Standard.
- How the Standard is applied in accounting for:
- Assets e.g. PPE and investment property.
- Trade receivables.
- Trade payables.
- Asset impairment.
- Correct disclosure.
- The Exposure Draft – Third Edition.
- Contents.
- Current status.
- Related correspondence.
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
Monja van Zyl CA(SA)
Monja van Zyl completed her CA(SA) articles in Durban and qualified as a chartered accountant in 2006. She then worked for both listed and unlisted companies in various industries where she mentored and led teams of different sizes.
Recognising the importance of balancing work and life, Monja started her own business called Aim Business Advisory Services in 2019. Her target market is the small-to-medium sized companies to whom she gives access to her vast skills and experience at a fraction of the cost on an outsourced retainer model.
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