Overview
The transformation of farm animals and plants into assets for sale, or into additional biological assets is quite different from other "manufacturing" methods because of the living nature of these assets.
It is then no surprise that accounting for farming operations is different from accounting for business activities involving non-living assets. The aim of this webinar is to discuss accounting for agricultural activities according to the specific requirements of IAS 41 Agriculture and the implications on IFRS for SMEs.
We invite you to join Caryn Maitland CA(SA) on 12 April 2023 from 9:00 a.m. to 11:00 a.m. as she discusses accounting for farming operations as well as touching on some deferred taxation implications.
Learning objectives
By attending this webinar you will gain the following competencies:
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Understand and have an appreciation for the peculiarities of accounting for agricultural operations.
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Know the requirements of the financial reporting standard for farming; IAS 41 - Agriculture.
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Be able to correctly measure, recognise and disclose agricultural assets in the financial statements.
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Understand the implications of agricultural account on IFRS for SMEs.
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Be able to correctly calculate deferred tax for agricultural activities.
Content
The webinar will cover the following topics:
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Overview of IAS 41 - Agriculture.
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Application of IAS 41 - Agriculture.
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How to recognise and measure biological assets.
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Accounting for intangible assets related to farming.
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Government grants in agriculture.
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Agriculture: Bearer plants (Amendments to IAS 16 and IAS 41)
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Taxation of income from agricultural activity - an overview.
Obtaining your CPD certificate
This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAICA and SAIPA.
All attendees are issued with a CPD certificate available in an online profile.
About the presenter
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.
Who should attend?
The following persons will benefit from attending this webinar:
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Practising accountants including: CA(SA), Professional Accountant (SA), AGA(SA), FCCA, BAP(SA), BA(SA) and ACCA.
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Accounting officers.
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Registered auditors.
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Independent reviewers.
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Tax Practitioners.
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Bookkeepers.
Price
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R 450.00 - Online admission - Individual.
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Group Bookings
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Group Price 1 - From R184 per person (up to 5 users)
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Group Price 2 - From R121 per person (up to 10 users)
- Group Price 3 - From R109 per person (over 11 users)
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This webinar is available as part of a monthly or annual subscription plan, click here for more information.
Steps to register for the event:
If you already have a profile, login and register for the webinar.
If you don’t have a profile, create a free profile then login and register for the webinar.
Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series).
Click here to find out about the Technical Resource Centre & CPD Subscription options.
Additional material
By attending this webinar you will be provided with:
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A summarised slide presentation.
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Reference documents and/or course material where available.
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You can ask questions during the webinar and you will also have access to the presenter after the webinar.