IFRS for SMEs: An Important Refresher
Presenters : Caryn Maitland CA(SA)
Overview
IFRS for SMEs applies to entities that do not have public accountability and therefore can publish 'general purpose' financial statements. Most SMMEs fall in this category as do NPOs and PBOs.
Following its mandate to periodically review and amend this Standard, the International Accounting Standards Board (IASB) issued the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard. This webinar presents a detailed discussion on the current Standard as well as the Exposure Draft, highlighting expected benefits to users of SMEs’ financial statements.
Learning objectives
Attending this webinar will equip you with the following skills:
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Knowledge of the current IFRS for SMEs Standard and its practical application.
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Be up-to-date with the proposed improvements contained in the Third Edition Exposure Draft.
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Have an understanding of accounting for assets, such as PPE and investment properties.
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Possess knowledge of how the Standard is applied when dealing with financial instruments, trade receivables, trade payables, and the impairment of financial assets.
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Improve your skill on disclosure in IFRS for SMEs financial statements.
Content
The webinar will cover the following topics:
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The IFRS for SMEs Standard (2015 edition).
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General overview.
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When to use this Standard.
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How the Standard is applied in accounting for:
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Assets e.g PPE and investment property.
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Trade receivables.
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Trade payables.
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Asset impairment.
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Correct disclosure.
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The Exposure Draft - Third Edition.
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Contents.
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Current status.
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Related correspondence.
