About this Course
The IFRS for SMEs Professional Certificate provides a comprehensive overview of the International Financial Reporting Standards (IFRS) tailored for small and medium-sized entities (SMEs). The course begins by establishing the financial reporting context, outlining the path from national accounting to international harmonisation and detailing the structure of the International Accounting Standards Board (IASB). Participants will gain insights into the IFRS framework, including the purpose and role of accounting standards. A focus is also placed on preparing financial statements and ensuring proper presentation in compliance with the fair presentation principles under IFRS.
Following this foundational knowledge, the course goes into specific SME-related topics such as the classification of SMEs, their financial statement presentation, and the requirements for various financial reports. Explored are important concepts like fair presentation, going concern, materiality, aggregation, and the complete set of financial statements required under IFRS. Key financial positions such as current and non-current assets, liabilities, and sequencing are addressed, ensuring that learners understand what is required in the statement of financial position, income, and cash flows.
The course rounds off by addressing more complex topics including business combinations, investments in associates and joint ventures, financial instruments, related party transactions, and industry-specific guidelines. A special emphasis is placed on transitioning to IFRS for SMEs, helping businesses understand how to adapt from their previous financial reporting frameworks.
Overall, the course equips accountants, financial professionals, and business managers with the necessary knowledge to implement IFRS for SMEs effectively, enhancing transparency and consistency in financial reporting for SMEs.
Learning Objectives
After successful completion of this course, you should be able to demonstrate the following competencies:
- Understand the Key Concepts of IFRS for SMEs: Gain a comprehensive understanding of the IFRS for SMEs including the purpose, structure, and application of these standards in financial reporting.
- Identify Financial Statement Requirements Under IFRS for SMEs: Learn how to prepare and present financial statements that comply with IFRS for SMEs, ensuring fair presentation, proper classification and adherence to key principles such as going concern and materiality.
- Analyse the Role of Accounting Standards in SME Financial Reporting: Explore the impact of international and national accounting standards on SMEs and understand the harmonisation process for financial reporting on a global scale.
- Apply Key IFRS for SMEs Concepts to Complex Transactions: Apply IFRS for SMEs requirements for complex transactions such as business combinations, investments in associates, and joint ventures.
- Facilitate the Transition to IFRS for SMEs for Organisations: Develop the skills needed to guide organisations through the transition from existing financial reporting frameworks to IFRS for SMEs.
Delivery
SA Accounting Academy delivers this online short learning program course. This course is divided into 17 modules. In this way, you can maintain a work-life balance while studying a just-in-time course to upskill yourself. The required effort is 4 to 8 hours per week.
Is this for you?
The IFRS for SMEs course is designed for a wide range of individuals, regardless of their current level of knowledge or experience in accounting and financial reporting. This course is ideal for:
Accounting and Finance Professionals: Accountants, bookkeepers, compilers, accounting officers, and financial advisors working with SMEs will gain the knowledge required to prepare and present compliant financial statements according to IFRS for SMEs.
Small and Medium-Sized Business Owners and Managers: Business owners and managers of SMEs will benefit from understanding how to implement IFRS for SMEs to improve financial transparency and compliance, helping them make more informed financial decisions.
Financial Controllers and CFOs of SMEs: Chief Financial Officers and financial controllers responsible for overseeing financial reporting in SMEs can enhance their understanding of IFRS for SMEs, ensuring that the financial statements reflect the true financial position of their organisation.
Auditors and Assurance Professionals: Auditors and independent reviewers providing assurance services can benefit from understanding IFRS for SMEs and how it differs from full IFRS, allowing them to effectively assure financial statements of SMEs.
Consultants and Advisors Specialising in SME Compliance: Business consultants and legal advisors who focus on financial compliance and regulation can expand their expertise in IFRS for SMEs, enabling them to advise clients on adopting and implementing these standards effectively.
By the end of this comprehensive course, you will have a thorough understanding of IFRS for SMEs and its practical application.
Lecturer
Caryn Maitland CA(SA)
Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA.
Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014. Caryn is also involved with the annual SAICA SMP Technical tour.
Prerequisites / Admission Requirements
The IFRS for SMEs is designed to be accessible to a wide range of learners. Participants should have a basic understanding of accounting principles and financial statements, such as balance sheets and income statements. While not mandatory, prior experience working in or with SMEs and a background in finance or accounting is recommended.
Assessments
This course includes formative assessments to test your knowledge throughout the modules. Learners must achieve all competencies of the course.
Assessment and Certification
On successful completion (i.e., competence in all modules) of this course the learners will be awarded:
- Certificate of Completion from SA Accounting Academy
Curriculum
Modules:
- Module 1 – IFRS for SMEs Section 29 Income Tax
- Module 2 - IFRS for SMEs Section 17 Property, Plant and Equipment (Accounting for Assets Part 1)
- Module 3 - IFRS for SMEs Section 16 Investment Properties, Section 13 Inventories, Section 18 Intangible Assets and Section 27 Impairment of Assets (Accounting for Assets Part 2)
- Module 4 - IFRS for SMEs Section 20 Leases
- Module 5 - IFRS for SMEs Section 23 Revenue
- Module 6 - IFRS for SMEs Section 21 Provisions and Contingencies
- Module 7 - IFRS for SMEs Section 19 Business Combinations and Goodwill
- Module 8 - IFRS for SMEs Section 11 Basic Financial Instruments (Part 1 of 2)
- Module 9 - IFRS for SMEs Section 12 Other Financial Instrument Issues & Section 22 Liabilities and Equity (Part 2 of 2)
- Module 10 - IFRS for SMEs Section 28 Employee Benefits & Section 26 Share-Based Payment
- Module 11 - IFRS for SMEs a Guided Tour Through the Illustrative Financial Statements
For more information on what will be covered in the curriculum please download the prospectus.
About SA Accounting Academy
The SA Accounting Academy is an accredited private QCTO, SAICA - AT(SA) and BANKSETA qualifications provider. We are committed to providing our students with the highest quality training and support, to ensure that your skills and knowledge are up to date and ready to face the challenges of the modern workplace. Qualifications and courses delivered are designed to ensure that you reach your professional goals and advance your career. With our experienced faculty, staff, and resources, you can be confident that you will receive the highest quality of training.
SAAA is a Level 2 B-BBEE contributor, with 125% procurement recognition. Training spend on certain solutions can be allocated against the Skills Development element of the B-BBEE Scorecard through accredited and nonaccredited training or claimed through SETA grants. In addition, 25% of your Skills Expenditure can be claimed on non-accredited training or courses.
Course Fees
Invest in your future with our comprehensive course. Our fee is an all-inclusive investment in your future.
The course fee is R 7 895.00 and consists of:
Educational Resources
- Online Materials: Access a wealth of online resources, from e-books to tutorial videos, enhancing your learning experience.
Learning Support
- Facilitation: Benefit from expert-led facilitation sessions that offer personalised guidance, addressing individual queries and ensuring a thorough understanding of the subject matter.
- Formative Assessments: Reinforce your understanding with assessments on different topics.
- Learner Forum: Engage in meaningful peer-to-peer interactions through our dedicated learner forum. Share insights, ask questions, and collaborate on projects to enhance your learning experience.
- Continuous Support: Our dedicated team is always on standby to assist with any academic or administrative queries, ensuring a smooth learning process.
Flexibility and Convenience
- Study Online: Complete your course and take your assessments online, giving you the freedom to learn from anywhere.
Payment Methods
Debit / Credit Card or Instant EFT
You can pay directly on our website for an easy, secure, and instant transaction. During promotional periods, customers can take advantage of additional savings. This is the fastest and most efficient option, saving both time and money.
EFT / Bank Deposit
You can make a payment directly into our bank account using your Online Banking App, Online Banking services, or by visiting your local bank branch.
Your Company / Employer
It may be beneficial for your company to invest in training for its staff members. As there are financial and tax advantages for doing so, please speak with your employer or Training / HR manager about the possibility of paying for this training.
Third Party
If you have someone who is willing to pay for your studies, such as a parent or relative, they can either log in and pay on our website or they can pay via any of the payment options above on your behalf.
Payment Option
Option 1: Once off payment
- R 7 895.00
Option 2: Monthly Debit Order
- R 2 631.00 (First Payment on Approval)
- R 2 632.00 (Monthly Debit Order for 2 Months (*)
* The total cost for option 2: Monthly Debit Order including the First Payment on Approval will be R 7 895.00.
Payment Term
Payments
- Minimum payments must be made via direct EFT or credit card before a course starts.
- Full payment is required before the start date.
- For debit order plans, the first payment is due on the start date.
- Access to content will be denied if payment terms are not followed.
Cancellations
- Written notice is required for cancellations.
- Cancellation fees vary based on the timing of the cancellation relative to the course start date:
- No fee if cancelled more than 10 working days prior.
- 100% fee if cancelled less than 10 working days prior.
- Non-refundable items include course application fees and modules that were accessed.
General Terms
- The application fee, if any, is non-refundable.
- Continuous access to the content is dependent upon adherence to the payment terms and conditions.
Corporate Training
At SA Accounting Academy, we recognise the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience.
Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritise hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios.
Interested in a bespoke corporate training experience? Reach out to us at [email protected] or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organisational goals.
Contact Us
Online chat through our website https://accountingacademy.co.za
WhatsApp: Start chatting (+27635026114)
Phone: 010 593 0466
E-mail: [email protected]