International Financial Reporting Standards (IFRS) were developed for a global audience and international participants. In contrast, tax legislation was shaped and influenced by individual countries’ needs. It is therefore of utmost importance to understand these differences and to demonstrate the ability to account for such differences.
This practical seminar will focus on financial reporting for the SMME sector, in particular differences between accounting entries in accordance with IFRS and IFRS for SMMEs compared to income and expenditure in accordance with the South African Income Tax Act.
The reconciliation of accounting entries and tax entries will cover the following broad areas:
Individual transactions and balances:
- Property, plant and equipment;
- Investment property;
- Intangible assets;
- Biological assets;
- Liabilities and provisions;
- Government grants.
- Non-taxable and non-deductible items.
- Temporary differences
- Disclosure of normal and deferred tax.
- Analysis and interpretation of tax balances and related tax disclosure.
Professor Danie Schutte - CA(SA), PhD Accountancy
Danie has many years' experience as practising accountant and auditor in the SMME sector. He lectures financial accounting at North West University, Potchefstroom Campus and is currently the program leader of the Program for Financial Accountancy. He serves on a number of committees and panels, including educational committees, syllabus committees, accreditation panels, audit committees and editorial panels of scientific journals. He is the author of national and international articles and he presented a number of research papers at national and international conferences. .
CPD:This event and successful completion of the online assessment will secure 4 hours verifiable output CPD points/units.
Including the following professional bodies. (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC)
Event Investment:Option 1 - Seminar:
Monthly CPD Subscribers: Free
Important: Please note that as from 2014 printed copies of notes is optional and will cost additional R50 per set and must be ordered. Electronic notes will be emailed to all registered delegates 2 days prior to the event. Should you require a printed copy on the day of the seminar kindly select the printed seminar notes when registering for the event.
Option 2 - Live Webinar Broadcast
This CPD event will be broadcast live on Tuesday 17 June 2014 from 09:00 - 13:00
Option 3 - DVD & Electronic Course Notes
This CPD event will be recorded and available to purchase on DVD.
Payments & Cancellations
- All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
- Proof of payment may be requested at registration, if payment at that point in time has not been reflected on SAIT’s bank account.
- Only written notice of cancellation will be recognised.
- If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
- If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
- If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
- Delegates who book and fail to attend will be liable for the full event fee.
- SAIT’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.