Provisions, Staff Costs, and Liabilities Everyone Hopes Will Go Away, IFRS for SMEs Section 21 and Section 28

Provisions and employee benefits rely heavily on judgement. Getting them wrong hides liabilities and damages trust.

3 CPD units November 16, 2026 1 presenter

What will set you apart

By completing this course you will gain the following competencies

When a provision must be recognised
Difference between provisions and contingencies
How uncertainty affects measurement
How employee benefit obligations arise
Where liabilities are commonly understated
Why timing matters

Event breakdown

Recognising provisions
Contingent liabilities explained
Measuring uncertainty
Timing of recognition
Short and long term employee benefits
Accruals and obligations
Common errors
Disclosure requirements

Category: AccountingType: CPD CourseCPD category: Accounting

Description

Provisions and employee benefits are often avoided because they involve estimates and uncertainty. As a result, liabilities are understated or ignored. This session focuses on how Sections 21 and 28 of IFRS for SMEs work in practice. It explains when obligations exist, how they should be measured, and why delaying recognition creates long-term reporting risk. Understanding these sections improves balance sheet accuracy and prevents surprises when obligations can no longer be avoided. This session strengthens confidence in recognising liabilities properly, even when estimates are uncomfortable.

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

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