Concepts and Pervasive Principles under the IFRS for SMEs – 24 March 2025

Name: Concepts and Pervasive Principles under the IFRS for SMEs - 24 March 2025 - cpd.myciba.org
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Back to basics – understanding the core concepts and pervasive principles of the IFRS for SMEs.

Date:

24 March, 2025

Time:

14:30

Hours:

3 hours

CPD Units:

Category:

Accounting

Group:

Channel 1: Compliance

Format:

Live Event

Concepts and Pervasive Principles under the IFRS for SMEs - 24 March 2025

Concepts and Pervasive Principles under the IFRS for SMEs - 24 March 2025 - Image 2

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Product Information

The webinar will begin with a quick overview of who should/can apply the IFRS for SMEs.

The webinar will take you ‘back to basics’ and consider the following foundational questions:

Why do we prepare financial statements?
What are the qualitative characteristics of information in financial statements?
What is an asset, liability, or equity? What is an income or expense?
When are the items above recognised in the financial statements?
At what amount are the items initially recognised in general?
At what amount are the items subsequently measured in general?

What will set you apart

By attending this webinar you will gain the following competencies

Understanding the objective of financial statements in terms of the IFRS for SMEs (2015) (the International Financial Reporting Standard for Small and Medium-Sized Entities) (effective 1 January 2017)
Understanding the qualitative characteristics of information in financial statements
Understanding the definition and recognition of items in the financial statements
Understanding the initial and subsequent measurement of items in the financial statements
Case studies to illustrate these concepts

Event breakdown

IFRS for SMEs: The who’s who
Objective of financial statements in terms of the IFRS for SMEs
Qualitative characteristics of information in financial statements
Items in the statement of financial position (assets, liabilities, equity)
Items of performance (income (profit or loss vs other comprehensive income) and expenses)
Recognition of assets, liabilities, income and expenses in financial statements
Measurement at initial recognition in general
Subsequent measurement in general

Certificate

The following event is awarded 3 CPD units in Accounting.

Presenter/s

Prof. Jacobus (Cobus) Rossouw

A Chartered Accountant (SA) since 1999, is an expert in IFRS and IFRS for SMEs. He has been lecturing Advanced Financial Accounting to post-graduate chartered accountancy students at the University of the Free State since 2004.

Previously the Subject Head for Financial Accounting (2005–2017), Cobus now serves as PGCA Academic Coordinator and is a member of the School of Accountancy’s Management Committee. He has received four Learning and Teaching Awards for innovative practices.

Cobus has authored/co-authored 13 accredited research articles, numerous accounting textbook chapters, and over 20 research papers presented at international and national conferences. He has also delivered 100+ professional update courses for various accounting bodies.