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IFRS for SME Update

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Learning objectives  

By the end of this event the participant should: 

• Understand the key differences between IFRS and IFRS for SMEs. 

• Have working knowledge of IFRS for SMEs. 

• Understand how to apply the Standard to special circumstances. 

• Discuss common problems, challenges and considerations. 

• Identify opportunities to add value to your clients through adopting IFRS for SME's. 

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Content 

The webinar will cover the following topics:  

• The background and development of IFRS for SMEs; 

• Scope and objectives of the Standard; 

• Responsibilities of a compiler vs an assurance provider; 

• Pervasive principles and elements of financial statements; 

• Presentation of financial statements and first-time adoption transition; 

• Accounting for:  

  • PPE, investment properties and intangible assets; 

  • Inventories and biological assets; 

  • Impairment, leases, forex transactions and deferred tax; 

  • Government grants and borrowing costs; 

  • Financial instruments, business combinations and goodwill; 

  • JVs, associates and share-based payments; 

  • Provisions and contingencies; 

  • Employee benefits and related parties; 

  • Revenue and events after reporting date. 

• Common problems, challenges and considerations.