Understanding Fixed Assets under IFRS for SMEs

The purpose of this webinar is to provide CIBA members with a thorough understanding of how to handle fixed assets under IFRS for SMEs, ensuring compliance with the latest standards. Fixed assets are often a significant part of an SME’s balance sheet, so knowing how to correctly identify, value, and record them is crucial. This session will guide delegates through each stage of fixed asset management—from initial recognition to final disposal—focusing on practical steps to avoid common errors and ensure accurate reporting. By the end of the webinar, attendees will be equipped with the skills to confidently manage fixed assets in line with IFRS for SMEs, providing a reliable financial picture for stakeholders.

3 CPD units January 24, 2025 1 presenter

What will set you apart

By completing this course you will gain the following competencies

Key definitions and concepts around fixed assets in IFRS for SMEs.
When to classify assets as “fixed” and what that means.
Understanding initial and subsequent measurement of fixed assets.
Depreciation and useful life: practical tips and techniques.
Handling revaluations, disposals, and impairments.
Clear guidance on disclosures and presentation requirements.
Practical examples and case studies to apply what you learn.

Event breakdown

What qualifies as a fixed asset?
Why is accurate classification important?
Initial cost and capitalizing expenses.
Handling revaluations and updates.
Treatment of maintenance and improvements.
Choosing the right depreciation method.
Setting useful life and residual value.
Spotting impairments and writing down assets.
How to account for asset sales and disposals.
Common pitfalls in disclosures.
Ensuring compliance with IFRS for SMEs standards.
Open floor for questions.
Real-life scenarios to bring it all together.

Category: AccountingType: CPD CourseCPD category: Accounting

Description

This two-hour webinar simplifies the essentials of handling fixed assets under IFRS for SMEs, tailored for CIBA members. We’ll start with identifying and classifying fixed assets, then walk through initial recognition, including which costs can be capitalized. Next, we’ll cover ongoing management, such as depreciation, revaluation, and disposal, with straightforward steps to keep your records accurate. We’ll wrap up with key disclosures so you know exactly what needs to be presented in financial statements. Using real examples, this session will equip you with practical, ready-to-use knowledge for handling fixed assets correctly.

Presenters

Leana van der Merwe — Leana: Leana van der Merwe, with 18+ years in accounting and corporate governance, Leana leads technical support at CIBA and is a recognized thought leader in regulatory compliance.

You will earn a certificate

On successful completion you will receive a certificate for 3 CPD units in Accounting.

Requirements

Laptop, desktop, or mobile device with internet access
Microsoft Edge, Google Chrome, Safari, or Firefox browser