Monthly Accountants Tech Talk - When good debt goes bad (and other financial instrument issues)
CPD Hours: 3
Price: R500.00
Monthly Accountants Tech Talk - When good debt goes bad (and other financial instrument issues)
Presenters : Carmen Westermeyer CA(SA) , Caryn Maitland CA(SA)
Overview
Loans receivable, loans payable, debtors, creditors, and investments - these financial instruments are all critical elements of running a business and need to be accounted for appropriately in the financial statements.
Information on these financial instruments is critical to users of financials to assess future cash flows and assess the stewardship of management. With all of this in mind, and with the world reeling from the COVID-19 pandemic, civil unrest, challenges relating to infrastructure and subsequent financial crisis, doing business in South Africa is indeed a challenging affair!
Learning objectives and competencies developed
Competencies developed in this CPD webinar include:
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An understanding of the accounting treatment of financial instruments from initial recognition, measurement, impairment and derecognition.
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An understanding of the disclosure of financial instruments as guided by IFRS 9 Financial Instruments, and related sections of IFRS for SMEs.
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An awareness of the legal requirements included in the Companies Act as well as the National Credit Act.
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An appreciation of the tax implications, including dealing with debt restructuring, compromises, and debt write-offs.
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Knowledge of triggers and trip wires that clients need to be alert to when structuring, granting, and writing off debt.
Content
The webinar will cover the following topics:
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Accounting for financial instruments:
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IFRS 9 Financial Instruments.
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IFRS for SMEs - Sections 11 and 12.
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Impairment of financial assets (expected credit losses).
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Taxation effects of debt transactions.
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Legal requirements:
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The Companies Act.
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The National Credit Act.
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Potential triggers and trip wires.
