Overview   

Several accounting pronouncements, including IAS 18 Revenue, have been superseded by the new IFRS 15 Revenue from Contracts with Customers. This standard requires revenue to be accounted for by means of the application of the "five-step revenue recognition model".  

Seeing that every business entity generates revenue to sustain itself, it is essential that this new accounting standard relating to the accounting treatment of revenue, is properly understood by all preparers of AFS.  

Join Anton van Wyk M.Com, CA(SA) for this webinar on 21 April 2020 from 9:00 am to 11:00 am. The webinar is part of our two series on IFRS and IFRS for SMEs which we are running monthly for the whole of this year, 2020. 

This webinar is part of a series on IFRS. The series will cover selected IFRS topics that every accounting professional should fully understand in their day to day work. If you are interested in booking for the entire series, click here.  

Learning objectives  

By the end of this event the participant should: 

• Understand the purpose of IFRS 15; 

• Know how to apply the five-step recognition method;  

• Know how to present revenue from contracts with customers in the AFS; and 

• Understand the disclosure of revenue from contracts with customers.  

Content 

The webinar will cover the following topics:  

• IFRS 15 overview.  

• Superseded standards. 

• Five-step recognition: 

  • Identify the contract; 

  • Identify performance obligations; 

  • Determine transaction price; 

  • Allocate transaction price; and  

  • Recognise the revenue. 

• Presentation in the AFS. 

• Disclosure. 

Obtaining your CPD certificate 

This webinar qualifies for 2 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 

Anton van Wyk M.Com, CA(SA) 

Anton van Wyk is a chartered accountant and independent consultant in International Financial Reporting Standards (IFRS and IFRS for SMEs). As former subject head of Financial Accounting at various higher education providers (including the University of Johannesburg and Monash University South Africa), he has gained valuable insights into and understanding of the important principles underlying the International Financial Reporting Standards (IFRS). 

Anton is a well-known and popular presenter who has presented numerous IFRS updates for several accounting bodies across South Africa. He is known for his ability to simplify and highlight the most important principles contained in IFRS, whilst keeping the learning process enjoyable for attendees. 

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;  

• Tax practitioners; and 

• Bookkeepers. 

Price  

• R 475.00 - Online admission - Individual. 

• R 950.00 - Online admission - Company. 

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