Overview   

Most SMEs are either lessees or lessors. As such, it is important that the accountant who is responsible for their financial records is fully knowledgeable on how to account for leases.  

What are the principles underlying these agreements? 

IFRS for SMEs Section 20 contains all the principles relating to the accounting treatment of leases in the annual financial statements of the lessor and the lessee.   

Learning objectives  

By the end of this event the participant should: 

• Know how to identify lease arrangements qualifying for recognition; 

• Know the difference between a finance leases and an operating leases; 

• Understand the rights and obligations of the lessor and lessee; 

• Understand how to account for lease payments; and 

• Understand how to recognise and disclose leases in the AFS; 

Content 

The webinar will cover the following topics:  

• Introduction to IFRS for SMEs Section 20 Leases. 

• Definition of a lease: 

  • Operating lease. 

  • Finance lease. 

• Lessor's rights and obligations. 

• Lessee's rights and obligations. 

• Accounting treatment of leases. 

• Lease recognition and 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 

Caryn Maitland CA(SA)

Caryn Maitland graduated in 1998 from the University of Natal, Pietermaritzburg (now UKZN), with a BCom Honours degree in Accounting and completed her articles with KPMG in 2001 and qualified as 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 in Auditing, second and third year subjects, for Varsity College from 1999 to 2001. In 2002, she was appointed as senior lecturer at UKZN and coordinated the Financial Accounting 300 course until June 2006. In addition, she has lectured in Advanced Financial Accounting since June 2006 until December 2011.

Caryn has conducted independent workshops and seminars for professional accountants since 2006 on various topics, and has consulted on a number of technical issues. Since January 2011, she has focused on her own business as technical freelance consultant and trainer. 

Caryn also held the position Editor-in-Chief of an online continual professional development (CPD) website for accounting professional, eCPD Accountancy, having resigned from this post in September 2013.

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 has also been involved with the SAICA SMP Technical tour (2014 to present).

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: 

• A 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 the presenter after the webinar.