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IFRS for SME Specialist

Prepare IFRS for SME financial statements.

R 4800
Category Accounting
Accredited SAIBA
CPD Hours 25
Effort 1 month's study, 6 hours per week
Duration 30 hours
Format Self-study
Level NQF Level 6
Assessment Yes
Supervised No
Pre-Entry No
Tuition Optional
Study Material Yes

What you will learn

The objective of this licence is to equip Business Accountants with the designations BAP(SA) and CBA(SA) to:

  • Prepare financial statements in compliance to IFRS for SME.
  • Meet the requirements of the Companies Act, 71 of 2008.
  • Advise on IFRS for SME interpretations.
  • Understand and apply IFRS for SMEs.
  • Assess the standard’s commercial impact on your firm and your client’s business.
  • Make informed decision and provide practical advice.

To obtain the licence you need to provide evidence of competence in the specialist area. This evidence is presented by passing an exam. The exam is set by an independent industry expert and accredited by SAIBA.

*SAIBA provides guides that are available as part of your preparation. Any recommended textbooks and webinars are an additional cost for your own expense. 

Study Units

National accounting to international harmonisation.

Pathway to financial reporting harmonisation.

The structure of the IASB. Find out about the International Accounting Standards Board and other related bodies.

The purpose and role of accounting standards.

International and national standards. There has been increased pressure in recent years for the adoption of a single set of global accounting standards.

Setting international financial reporting standards.

What is financial reporting? Find out what financial reporting is and what financial statements are.

Preparation and presentation of financial statements. The IASB Framework sets out the concepts that underlie the preparation and presentation of financial statements.

The history of the new IFRS for SMEs.

The requirements to be classed as an SME.

The omitted topics for SMEs; and

The options available under IFRSs, not included in the IFRS for SMEs.

The fair presentation of financial statements;

What compliance with the IFRS for SMEs requires; and

What the complete set of financial statements are.

What detail is required to be presented in the statement of financial position;

The sequencing and format of items; and

The information to be presented in the statement of financial position and the notes.

What detail is required to be presented in the statement of comprehensive income and income statement;

The sequencing and format of items; and

The information to be presented in the statement of comprehensive income and the notes.

The requirements for reporting changes in equity in a statement of changes in equity and in a statement of income and retained earnings.

What information is required in a statement of cash flows; and

How this information should be presented.

How to present information in the notes to the accounts; and

What information should be disclosed.

The requirements for presenting consolidated statements;

Special purpose entities (SPEs);

Consolidation procedures;

Disclosures required;

Separate financial statements;

Combined financial statements.

Treatment by an investing entity (‘acquirer’) when it acquires a substantial shareholding in another entity (‘acquiree’). The transaction which brings these two parties together is known as a ‘business combination’ and creates a ‘group’ of entities.

Understand the measurement and disclosures of associate accounting including the cost model, equity method and fair value model; and

Understand what a joint venture is, looking at methods of measurement and disclosures required.


Property, plant and equipment;


Investment property;

Borrowing costs.

Employee benefits;


Deferred tax Subject areas.

Basic and complex financial instruments with initial and subsequent measurement;

Impairment of financial instruments;

Derecognition of financial assets and liabilities; • hedge accounting; and

Disclosure requirements.

Disclosure requirements of all industry specific areas within the previous study unites.

Understand the scope and objectives IFRS for SMEs;

Understand the key recognition and measurement criteria; and

Demonstrate knowledge of the key disclosure and presentation issues associated with using international standards for the first time.


The entry requirements for the licence is a BAP(SA) or an equivalent designation at NQF level 7, together with a minimum of 8 years of relevant experience.


As specialist in the IFRS for SME you will be able to prepare financial statements that are compliant with the Companies Act, 71 of 2008. You will also be able to provide advisory services to other accountants and companies.

As specialist in the subject area you will stand out from the crowd and hence be able to attract more clients.

Should you wish to purchase additional study material in the form of an IFRS for SMEs webinar series, this is available at a cost of R3000 or R250 per month. Click here for more details

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