IFRS for SMEs – Intangible Assets and Impairment of Assets
The accounting treatment of intangible assets and the impairment of assets in terms of the IFRS for SMEs.
3 CPD units March 10, 2025
What will set you apart
By completing this course you will gain the following competencies
- A quick overview of who should/can apply the IFRS for SMEs (2015) (the International Financial Reporting Standard for Small and Medium-Sized Entities ) (effective 1 January 2017)
- Understand the concept of an ‘asset’ in the context of an impairment
- The detailed accounting treatment of intangible assets (other than Goodwill) in terms of the IFRS for SMEs (2015)
- Accounting for an impairment loss in terms of the IFRS for SMEs (2015)
- The webinar will discuss the core accounting principle of the topics above and will use examples to illustrate the practical application thereof.
Event breakdown
- IFRS for SMEs: The who’s who
- Conceptual discussion of the definition and recognition of an asset (IFRS for SMEs: Section 2)
- Intangible Assets other than Goodwill (IFRS for SMEs: Section 18):
- Initial recognition of intangible assets acquired separately
- Internally generated intangible assets
- Measurement
- Amortisation (useful life, pattern of use, residual value)
- Disclosures
- Impairment of Assets (IFRS for SMEs: Section 18):
- Inventories
- Other assets (excluding financial instruments)
- Indicators of impairment
- Recoverable amount (fair value less costs to sell and value in use)
- Recognition of an impairment loss
- Reversal of an impairment loss
- Disclosures
Category: AccountingType: CPD CourseCPD category: Accounting
Description
The webinar will begin with a quick overview of who should/can apply the IFRS for SMEs.
Next, we will briefly refer to the core concept of an ‘asset’ and what it actually implies when we recognise an asset.
During the webinar, we will deal with the detailed accounting treatment (definition, recognition, measurement, presentation and disclosure) of Intangible Assets acquired separately (not as part of a business combination), and the accounting treatment of amortisation.
The webinar will conclude with an in-depth explanation of the accounting treatment of impairment losses on individual assets (e.g. PPE) and cash-generating units.
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