IFRS for SMEs Section 27 - Impairment of Assets


Date: Oct 20, 2020 - Oct 20, 2020

CPD hours: 2 Hours

Time: 09:00 - 11:00

Event Type: Webinar

Presenter: Anton van Wyk CA(SA)
CA(SA)

Economies of the world are in turmoil with many of them, including South Africa, in recession! In this current situation, what is the accountant's obligation regarding assets and their impairment?

Overview   

Economies of the world are in turmoil with many of them, including South Africa, in recession! In this current situation, what is the accountant's obligation regarding assets and their impairment?  

It is important that the accountant, in the performance of his/her duties, regularly tests assets (or groups of assets called ‘cash-generating units’) for impairment. Macro-economic indicators of possible impairment trigger the necessity to test assets for impairment, just like micro-economic indicators, such as significant damage to an asset, do.  

The correct principles for applying the process of impairment testing are laid out in the IFRS for SMEs Section 27 Impairment of Assets.  

Join IFRS expert Anton van Wyk M.Com, CA(SA) on 20 October 2020 from 09:00 a.m. to 11:00 a.m. as he explains this section together with its practical application.  

This webinar is part of a series we are currently running on IFRS for SMEs. Click here to view the series. You can also view our other series on the main IFRS here


Learning objectives  

By the end of this event the participant should: 

  • Understand the requirements of IFRS for SMEs Section 27 Impairment of Assets; 

  • Know how to practically perform impairment testing on assets; and 

  • Know how to disclose impairment. 


Content 

The webinar will cover the following topics:  

  • Scope of IFRS for SMEs Section 27 Impairment of Assets.  

  • Asset impairment indicators. 

  • Impairment of inventories. 

  • Impairment of other assets. 

  • Goodwill impairment. 

  • 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: 

  • Accountants. 

  • Company secretaries. 

  • Registered auditors. 

  • Trainee accountants/ auditors.  

  • Personnel performing company secretarial duties. 


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 

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Venues & Dates

The following venues and dates are available for this event.

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