Overview   

Financial instruments are a key component of financial statements and have a significant impact that requires careful and correct accounting treatment.  

Accounting for financial instruments describes what accountants do when they report on: 

• Financial assets - investments in shares, bonds and receivables. 

• Financial liabilities - trade payables and long-term borrowings. 

• Equity instruments - equity share capital. 

This webinar takes you through the International Financial Reporting Standards (IFRS) that one must apply when dealing with financial instruments. In addition, the webinar will also highlight recent IFRS amendments and related news. Join Prof Hentie van Wyk on 12 July 2023 from 9:00 a.m. to 1:00 p.m. as he presents this annual IFRS update with a focus on how to report on financial instruments.  

Learning objectives  

Attending this webinar will equip you with the following skills: 

• Be knowledgeable about what falls under the definition of financial instruments. 

• Understand the IFRS that you must apply when you account for financial instruments and see how the Standards all tie together. 

• Have the ability to correctly classify and measure financial assets and liabilities. 

• Possess adequate knowledge of how to correctly impair financial assets. 

• Be up to date with recent important IFRS updates.  

Content  

The webinar will cover the following topics:  

• Fair value measurement principles. 

• How to disclose fair value. 

• Equity versus liabilities. 

• Defining financial instruments. 

  • Financial assets. 

  • Financial liabilities. 

• Compound instruments. 

• How to classify financial assets and liabilities. 

• Impairment of financial assets, including receivables. 

• Hedge accounting: Fair value and cash flow hedges. 

• Disclosure of financial instruments.  

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 

Prof Hentie van Wyk   

Prof van Wyk obtained his BCom degree in 1978 after which he served articles at KPMG. He qualified as a CA(SA) in 1982. He then left KPMG in 1984 to join the University of the Free State as a senior lecturer. He was promoted to Associate Professor in 1988 and to Professor and Head of the Centre for Accounting in 1992. He obtained a PhD in Public Sector Management in 2003.    

Prof van Wyk is currently the Programme Director for Chartered Accountancy Education at the University of the Free State. He lectured IFRS at postgraduate level for more than 30 years and is still involved with the School of Accountancy on a part-time basis. He is a former President of the SA Accounting Association and the former Vice-president of the International Association of Accounting Education and Research. He has published several articles in various research journals and is co-author of two well-known IFRS textbooks in South Africa. Prof van Wyk served as a board member of the Free State Society of Chartered Accountants for 20 years and he was also member of the Academic Review Committee of the SAICA from 2005 to 2012. An active member of the community, Prof van Wyk is an officer in his church.  

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. 

• Accounting officers. 

• Financial managers/ directors. 

• Bookkeepers. 

• Trainee accountants. 

Price              

• R 575.00 - Online admission - Individual. 

• Group Price 1 - From R184 per person (up to 5 users) 

• Group Price 2 - From R121 per person (up to 10 users) 

• Group Price 3 - From R109 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.