Overview    

Accurate financial reporting under the IFRS for SMEs (3rd Edition) requires more than technical knowledge — it demands consistent presentation, sound professional judgement, and the correct application of accounting policies and estimates. Errors in presentation, inconsistency in accounting policies, or incorrect treatment of prior period adjustments can result in audit findings, regulatory scrutiny, and reduced credibility of financial statements. 

This session focuses on the correct preparation and presentation of financial statements in accordance with IFRS for SMEs (3rd Edition), together with the selection and application of accounting policies, accounting estimates, and the correction of errors. Participants will develop practical competence in producing compliant, decision-useful financial statements that meet professional and regulatory expectations. 

Join Caryn Maitland CA(SA) on 8 April 2026 from 10:00 am to 12:00 pm as she provides practical guidance on preparing a complete set of financial statements, applying presentation principles, and exercising professional judgement when dealing with accounting policies, estimates, and prior period errors under IFRS for SMEs (3rd Edition). 

Learning objectives   

Attending this webinar will equip you with the following skills:  

• Understand the complete set of financial statements required under IFRS for SMEs and the role of each statement within the reporting framework 
• Apply correct presentation principles to key financial statements, including the Statement of Financial Position and Statement of Cash Flows 
• Select and apply accounting policies in accordance with IFRS for SMEs requirements and hierarchy guidance 
• Account correctly for changes in accounting policies, changes in accounting estimates, and prior period errors 
• Strengthen professional judgement when assessing materiality, comparatives, and consistency in financial reporting

Content   

The webinar will cover the following topics:  

• Session 2 – Financial Statements and Presentation 

• The Complete Set of Financial Statements (Section 3) 
  o Purpose of financial statements 
  o Components of a complete set of financial statements 
  o General features of financial statements 
  o Fair presentation and compliance with IFRS for SMEs 

• Statement of Financial Position (Section 4) 
  o Classification of assets and liabilities 
  o Current versus non-current classification 
  o Minimum required line items 
  o Ordering and presentation principles 

• Statement of Comprehensive Income (Section 5) 
  o Single-statement versus two-statement approach 
  o Presentation of profit or loss 
  o Other Comprehensive Income (OCI) 
  o Minimum disclosure requirements 

• Statement of Changes in Equity (Section 6) 
  o Movements in equity components 
  o Presentation of retained earnings 
  o Alternative statement of income and retained earnings 

• Statement of Cash Flows (Section 7) 
  o Cash and cash equivalents 
  o Operating, investing, and financing activities 
  o Direct versus indirect method 
  o Common presentation errors 

• Notes to the Financial Statements (Section 8) 
  o Structure and organisation of disclosures 
  o Disclosure of accounting policies 
  o Disclosure of judgements and estimates 
  o Cross-referencing to financial statements 

• Comparative Information and Consistency 
  o Requirement for comparative financial information 
  o Consistency of presentation 
  o Reclassification of comparatives 
  o Disclosure requirements 

• Session 3 – Accounting Policies, Estimates and Errors (Section 10) 

• Selection and Application of Accounting Policies 
  o Accounting policy hierarchy under IFRS for SMEs 
  o Sources of guidance where the standard is silent 
  o Consistency in policy application 

• Changes in Accounting Policies 
  o Voluntary versus mandatory changes 
  o Retrospective application 
  o Disclosure requirements 

• Accounting Estimates 
  o Definition and nature of accounting estimates 
  o Changes in accounting estimates 
  o Prospective application 

• Prior Period Errors 
  o Identification of errors 
  o Retrospective restatement 
  o Disclosure of corrections 

• Materiality and Professional Judgement 
  o Materiality considerations in financial reporting 
  o Professional judgement in policy selection 
  o Judgement in error correction 
  o Documentation and audit considerations 

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:  

• Practising accountants including: CA(SA), Professional Accountant (SA), AGA(SA), FCCA, BAP(SA), BA(SA) and ACCA.  

• Registered auditors.  

• Audit managers.  

• Trainee accountants.  

Price           

• R 450.00 - Online admission - Individual.  

• Group Price 1 - From R337 per person (up to 5 users)   

• Group Price 2 - From R260 per person (up to 10 users)   

• Group Price 3 - From R224 per person (over 11 users)  

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.  

Corporate training solutions  

At the Accounting Academy, we recognize the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience.   

Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritize hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios.  

Interested in a bespoke corporate training experience? Reach out to us at corporate@accountingacademy.co.za or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organizational goals.  

Contact us  

Have any questions or need any assistance? Contact us today!  

• Online chat through our website.  

• WhatsApp: Start chatting (+27635026114)  

• Phone: 010 593 0466  

• E-mail: ticket@accountingacademy.co.za