Accountants' Discussion Forum: Uncovering Financial Agreements: Comparing Leases, Instalment Credit, and Sales
CPD Hours: 2
Price: R380.00
Accountants' Discussion Forum: Uncovering Financial Agreements: Comparing Leases, Instalment Credit, and Sales
Presenters : Carmen Westermeyer CA(SA) , Caryn Maitland CA(SA)
Overview
Understanding the fine points of financial agreements is essential for accountants working with leases, instalment credit, and sales. This webinar explores the detailed differences in definitions across various frameworks—IFRS, IFRS for SMEs, Income Tax, VAT, and common law—highlighting the critical importance of precise terminology in accurately interpreting and applying these standards.
This discussion forum aims to provide clarity on how these differences affect financial reporting, tax obligations, and compliance.
Join our experts Caryn Maitland CA(SA) and Carmen Westermeyer CA(SA) for a dissection of these issues.
Learning objectives and competencies developed
Through real-world case studies, practical examples, and an in-depth analysis of the latest regulatory developments, this webinar will equip you with the following competencies:
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Understand the key characteristics that define a finance lease under IFRS, distinguishing it from an operating lease based on the transfer of risks and rewards, and the accounting treatment.
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Learn the specific criteria and characteristics of a finance lease under the IFRS for SMEs including the differences and similarities full IFRS.
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Know the principles that govern sale and leaseback transactions under common law.
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Be able to analyse the income tax implications of finance leases for both the lessee and the lessor. Identify the features of a finance lease for IFRS for SME purposes
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Understand the VAT implications of finance leases for both the lessee and the lessor.
Content to be discussed
The following topics are under discussion for this month:
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What is a finance lease per IFRS 16?
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What is a lease per IFRS for SME's?
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How to account for sales and leases per the Income Tax Act?
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What is an instalment credit agreement per the VAT Act?
