Annual IFRS Update 2022
Presenters : Prof. Hentie van Wyk
Overview
The International Financial Reporting Standards (IFRS) constantly evolve from year to year. The years 2021 and 2022 are no exception as they have seen developments that every accounting professional should be aware of and fully understand as preparers of financial statements.
Some of the latest trends and developments in the IFRS space include:
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Business Combinations under Common Control.
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Revenue recognition principles in IFRS 15 - Revenue from Contracts with Customers.
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Integrated reporting (IR) paving the way for future reporting.
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A dissection of leases under IFRS 16 - Leases.
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Accounting implications of ESG.
Learning objectives
By attending this webinar, you will develop the following competencies:
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Maintain current knowledge of IFRS and correct practical application thereof.
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Be updated on the current version of the conceptual framework for financial reporting.
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Have a broad understanding of the integrated reporting framework and appreciate its importance in decision-making.
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Demonstrate an understanding of the correct treatment of revenue, assets, and liabilities as per recent IFRS amendments.
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Be better informed on the latest developments in, and know accounting implications of, ESG.
Content
The webinar will cover the following topics:
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Framework.
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The conceptual framework for financial reporting.
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Presentation.
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Integrated Reporting (IR).
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Introduction to sustainability reporting, including ESG.
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Revenue.
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IFRS 15 Revenue from contracts with customers.
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Assets.
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Right-of-use-assets (IFRS 16 - Leases).
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Sale and leaseback.
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Impairments of financial assets including modifications and ELC calculations.
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Liabilities.
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Lease liabilities (IFRS 16 - Leases), including remeasurements.
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New Standard amendments and updates including the agenda of the IASB.
