Annual Accounting Update 2021/2022
Presenters : Caryn Maitland CA(SA)
Overview
As the world around us changes, and what never was becomes the new normal, are there any financial reporting standards that might have slipped under the radar while we focused on how to recover from the effects of the COVID-19 pandemic?
IFRS 17 Insurance Contracts came online last year. This Standard is deceiving as many think that it only applies to those in financial services. Quite the opposite is true as the concepts within it relate to the general principles of offering insurance even for those that mat may not be aware they are in the insurance game!
Learning objectives
By the end of this event the you should:
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Be aware of important amendments to existing IFRS;
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Be aware of new Standards that have recently been issued;
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Understand how these changes affect accountants and their clients;
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Understand how to practically apply the changes; and
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Know how the COVID-19 pandemic has affected financial reporting and what can be done about it.
Content
The webinar will cover the following topics:
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Amendments to Standards effective now in 2021:
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IFRS 1 - First Time Adoption of IFRS.
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IFRS 3 - Business Combinations.
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IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors.
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IAS 12 - Income Taxes.
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IAS 16 - Property, Plant and Equipment.
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IFRS 17 - Insurance Contracts (Tentatively delayed to 1 January 2022)
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COVID-19: Effects on financial reporting and what to do about it.
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A quick run through IFRS for SMEs.
