Description

IFRS for SMEs applies to entities that do not have public accountability and therefore can publish general purpose financial statements. Most SMMEs fall into this category as do NPOs and PBOs. The International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) have not undergone significant updates since the issuance of the standard in 2009. However, it’s important to note that the International Accounting Standards Board (IASB) continuously monitors the effectiveness and relevance of its standards, including the IFRS for SMEs, and periodically issues amendments and updates when necessary.

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.

What you will learn

By attending this webinar you will gain the following competencies: 

• Knowledge of the current IFRS for SMEs Standard and its practical application. 

• Be up-to-date with the proposed improvements contained in the Third Edition Exposure Draft. 

• Have an understanding of accounting for assets, such as PPE and investment properties.

• Possess knowledge of how the Standard is applied when dealing with financial instruments, trade receivables, trade payables, and the impairment of financial assets.

• Improve your skill on disclosure in IFRS for SMEs financial statements.