Inventory Profits, Impairments, and Other Silent Killers of Results, IFRS for SMEs Section 13 and Section 27

Inventory and impairment errors inflate profit quietly. This session explains how these mistakes happen and how to stop them.

3 CPD units November 2, 2026 1 presenter

What will set you apart

By completing this course you will gain the following competencies

How inventory should be measured
Which costs belong in inventory and which do not
When write downs are required
How impairment indicators arise
How impairment affects profit
Where judgement failures cause misstatement

Event breakdown

Measuring inventory cost
Costs included and excluded
Net realisable value
Inventory write downs
Impairment indicators
Measuring impairment losses
Reversals of impairment
Disclosure requirements

Type: CPD CourseCPD category: Accounting

Description

Inventory and impairment are two of the fastest ways to distort financial results. Costs are included incorrectly. Write downs are delayed. Impairment indicators are ignored. This session focuses on how Sections 13 and 27 of IFRS for SMEs apply in real situations. Attention is given to net realisable value, impairment triggers, and the impact on profit and assets. Understanding these areas reduces the risk of overstated inventory, delayed losses, and uncomfortable questions during review or audit. This session strengthens judgement in areas where pressure to protect profit often leads to poor decisions.

Presenters

Prof. Jacobus (Cobus) Rossouw CA(SA) — Prof Jacobus Rossouw CA(SA) (Cobus) was born in Bloemfontein and still has his roots planted in the beautiful Free State. He became a Chartered Accountant (SA) in 1999. In 2000, he joined the University of the Free State as a senior lecturer. He was promoted to associate professor in 2006 after obtaining his Master's degree in Financial Accounting (cum laude). Cobus specialises in the IFRS Accounting Standards (IFRSs) and the IFRS for SMEs. He is currently (since 2004) lecturing Advanced Financial Accounting to post-graduate chartered accountancy students (PGCA). Cobus's passion is lecturing in Financial Accounting and preparing his students for the world of work. He regularly acts as an external moderator for chartered accountancy programmes at the post-graduate level of other universities. In the last three years, as part of the PGCA lecturing team, he received four Learning and Teaching Awards for innovative practices. From 2005 to 2017, he was the Subject Head for Financial Accounting. Since 2016, Cobus has been the PGCA Academic Coordinator for the post-graduate year group and is responsible for the coordination of the PGCA programmes. Cobus also serves as a member of the Management Committee of the School of Accountancy of the University of the Free State. Cobus also served on numerous committees of the Faculty of Economics and Management Sciences. He is the author or co-author of thirteen accredited research articles and various non-accredited articles in academic and accounting literature. He has presented (as author/co-author) more than twenty research papers at international, national and university conferences on aspects of Financial Accounting and Learning and Teaching. Furthermore, he is the author of numerous chapters in various leading financial accounting textbooks focusing on IFRSs. He has also presented more than a hundred professional update courses/seminars/webinars to practising accountants on behalf of various professional bodies.

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