Overview

The International Accounting Standards Board (IASB) has recently issued the amendments to the International Financial Reporting Standard for Small and Medium-sized Entities (the IFRS for SMEs). Entities that prepare financial statements using the IFRS for SMEs are required to apply the amendments for annual periods beginning on or after 1 January 2017. However, earlier application is permitted.

The purpose of this two-hour webinar is to explain the amendments to the IFRS for SMEs and to provide guidance on applying those amendments. The effective date is 1 January 2017, but entities would need to prepare well in advance to apply the amendments. Our expert presenter, Prof. Cobus Rossouw, will take you through the major amendments and address some of the most relevant minor amendments and clarifications. The major amendments are the option to use the revaluation model for property, plant and equipment and aligning the main recognition and measurement requirements for deferred income tax with IAS 12 Income Taxes.

Presenter

Cobus Rossouw
Associate Professor, University of the Free State

Prof. Cobus Rossouw obtained a B. Compt. Hons degree in 1995. Thereafter he completed his articles at the University of the Free State and PricewaterhouseCoopers and became a Chartered Accountant (SA) in 1999. In 2000 he joined the University of the Free State as a Senior Lecturer. He was promoted to an Associate Professor in 2006, after obtaining his Masters’ degree in Financial Accounting (cum laude).

Cobus is currently lecturing Advanced Financial Accounting to postgraduate students and specialises in International Financial Reporting Standards (IFRS). He is author and co-author of various articles in academic and accounting literature and author of various chapters in accounting text books. He has presented a number of papers at international and national conferences. He has also presented a number of update courses to practising accountants.

He received the award for Top Achiever: Teaching and Learning (senior) in the Faculty of Economic and Management Science in 2004.

CPD

Attending each webinar will accrue 2 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.