Overview   

Do you know how to apply the IFRS for SMEs Standard in the following circumstances: BEE transactions, SMEs under liquidation or under business rescue, contingent liabilities, intangible assets, and deferred tax? It's not so easy as it looks and you could end up in trouble with CIPC and SARS if your presentation and disclosure is found to be faulty.  

The IASB tweaked and amended the Standard for the first time since it was published in 2015, with a handful of critical amendments that become effective for years beginning on or after 1 January 2017. It is vital that every accounting and auditing practitioner gets up-to-speed with the Standard including all its amendments.  

Cognisant of this, we have asked Caryn Maitland CA(SA) to use her practice experience and examples to provide a webinar that takes you back to basics while updating you on amendments to the Standard. Caryn will also provide solutions to complex transactions you are bound to encounter in your work.     

Learning objectives  

By the end of this event the participant should: 

• Understand the key differences between IFRS and IFRS for SMEs. 

• Have working knowledge of IFRS for SMEs. 

• Understand how to apply the Standard to special circumstances. 

• Discuss common problems, challenges and considerations. 

• Identify opportunities to add value to your clients through adopting IFRS for SME's. 

Content 

The webinar will cover the following topics:  

• The background and development of IFRS for SMEs; 

• Scope and objectives of the Standard; 

• Responsibilities of a compiler vs an assurance provider; 

• Pervasive principles and elements of financial statements; 

• Presentation of financial statements and first-time adoption transition; 

• Accounting for:  

  • PPE, investment properties and intangible assets; 

  • Inventories and biological assets; 

  • Impairment, leases, forex transactions and deferred tax; 

  • Government grants and borrowing costs; 

  • Financial instruments, business combinations and goodwill; 

  • JVs, associates and share-based payments; 

  • Provisions and contingencies; 

  • Employee benefits and related parties; 

  • Revenue and events after reporting date. 

• Common problems, challenges and considerations. 

Obtaining your CPD certificate 

This webinar qualifies for 4 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by all relevant professional bodies. 

All attendees are issued with a CPD certificate available in an online profile. 

About the presenter 

Caryn Maitland 

Caryn Maitland is a qualified 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 on various topics for professional accountants since 2006.  

Caryn 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.  She is also involved with the annual SAICA SMP Technical tour. 

Who should attend 

The following persons will benefit from attending this webinar: 

• Professional Accountants including: RA(SA), CA(SA),PA(SA) and BAP(SA); 

• Accounting officers; and 

• Bookkeepers. 

Price   

• R 575.00 - Online admission - Individual. 

• R 950.00 - Online admission - Company. 

• R 0.00 - Paid CPD package subscribers.  

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: 

• Summarised slide presentation 

• Reference documents and / or course material where available 

• You can ask questions during the webinar and you will also have access to me the presenter after the webinar