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Overview   

Loans receivable, loans payable, debtors, creditors, and investments - these financial instruments are all critical elements of running a business and need to be accounted for appropriately in the financial statements.  

Information on these financial instruments is critical to users of financials to assess future cash flows and assess the stewardship of management. With all of this in mind, and with the world reeling from the COVID-19 pandemic, civil unrest, challenges relating to infrastructure and subsequent financial crisis, doing business in South Africa is indeed a challenging affair! 

During this session, to be presented on 14 March 2022 from 9:00 a.m. to 12:00 p.m., Caryn Maitland CA(SA) and Carmen Westermeyer CA(SA) will delve into all aspects of financial instruments from both the debt issuer's and debt holder's perspectives.   

Learning objectives and competencies developed 

Competencies developed in this CPD webinar include: 

• An understanding of the accounting treatment of financial instruments from initial recognition, measurement, impairment and derecognition. 

• An understanding of the disclosure of financial instruments as guided by IFRS 9 Financial Instruments, and related sections of IFRS for SMEs. 

• An awareness of the legal requirements included in the Companies Act as well as the National Credit Act. 

• An appreciation of the tax implications, including dealing with debt restructuring, compromises, and debt write-offs. 

• Knowledge of triggers and trip wires that clients need to be alert to when structuring, granting, and writing off debt. 

Content 

The webinar will cover the following topics:  

• Accounting for financial instruments: 

  • IFRS 9 Financial Instruments. 

  • IFRS for SMEs - Sections 11 and 12. 

• Impairment of financial assets (expected credit losses). 

• Taxation effects of debt transactions. 

• Legal requirements: 

  • The Companies Act. 

  • The National Credit Act. 

• Potential triggers and trip wires. 

Obtaining your CPD certificate 

This webinar qualifies for 3 CPD hours with your professional body including ACCA, AAT, SAIPA, SAIBA, SAICA, 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 presenters 

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. 

Carmen Westermeyer CA(SA) 

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC in 2004. She has been a member of SAICA since then. In 2008, she was appointed lecturer at UKZN and coordinated the Taxation 300 course until December 2010. She then took over the role of Academic Leader for the Taxation Department, as well as the coordination of the Postgraduate Taxation Programme.  

In December 2012 Carmen started running ad hoc training courses for members of the profession. From December 2013, she moved into commercial training and consulting on a full-time basis. She has been involved in various training activities, such as the SAICA SMP training in 2014 and the FASSET Budget and Tax Update in 2015 and 2016. 

Who should attend? 

The following persons will benefit from attending this webinar: 

• Professional accountants such as CA(SA), BAP(SA), AGA(SA), BA(SA) and Professional Accountant (SA). 

• Registered auditors.  

• Financial managers.  

• Financial advisors. 

Price              

• R 500.00 - Online admission - Individual. 

• Free - If you are already an SAAA CPD subscriber. 

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.