IFRS for SMEs

INTRODUCTION

Is your company’s financial statement and reporting IFRS based? Are you looking at transiting to IFRS but need a firm grips on IFRS before transiting with the hope of training your staff in getting ready for the move towards IFRS? IFRS for SME is aimed at meeting the needs of SMEs in Ghana in their financial reporting processes and transiting towards IFRS based financial reporting.

SMEs account for more than 90% of companies in Ghana. The three day training takes a closer look at various requirements for SMEs in recognizing and measuring assets, liabilities, income and expenses. The complications involved with full IFRS disclosures are also minimized significantly to make it more applicable to all SMEs reporting requirements and also reduce costs. Other benefits to SME are to help such organizations attract the needed capital globally through institutional investors, venture capitalists, banks and other investment companies. IFRS based financial reporting will also bring about confidence in the financial statements of SMEs and to make them more competitive.

DETAILED OUTLINE

A: Overview of IFRS for SMEs

B: Scope and concepts

C: Financial statement presentation

• Financial statements
• Accounting policies
• Events after year end
• Related party disclosures

D: Revenue

E: Financial Instruments

F: Assets:

• Inventories;
• Property plant and equipment;
• Intangible assets;
• Impairment;
• Associates;
• Joint ventures;
• Investment property

Liabilities:

• Leases;
• Provisions;
• Employee benefits;
• Income taxes

Other issues: 

• Consolidation;
• Business Combinations;
• Foreign Operations;
• Transition issues

Target Audience

Accountants, Accounts Officers, Finance Managers, etc.

This is a full practice based workshop which will require several exercises and hands-on practices during the training period.