IFRS for SME’s Seminar

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

(established under the Accountant Act, Laws of Kenya)

IFRS for SMEs Workshop

DATE: 20th to 21st June 2017

VENUE: Nairobi Safari Club, Lilian Towers

TIME: 8am to 5pm

The IFRS for SMEs is a Standard designed to meet the needs and capabilities of small and medium-sized entities (SMEs), which are estimated to account for over 95 per cent of all companies in Kenya. Compared with full IFRS, the IFRS for SMEs is less complex in a number of ways:

• Many principles for recognizing and measuring assets, liabilities, income and expenses in full IFRS are simplified. For example, amortize goodwill; recognize all borrowing and development costs as expenses; cost model for associates and jointly-controlled entities; and undue cost or effort exemptions for specific requirements
• Significantly fewer disclosures are required (roughly a 90 per cent reduction)
• The Standard has been written in clear, easily translatable language.
• To further reduce the burden for SMEs, revisions are expected to be limited to once every three years

ICPAK has organized this workshop to provide an overview on the requirements the IFRS for SMEs.

At the end of the workshop, the attendees are expected to understand the following areas:

Introduction to the IFRS for SMEs

• Applicability of the IFRS for SMEs
• Brief history, updates and effective dates
• Transition to the IFRS for SMEs
• First time adoption of the IFRS for SMEs
• A summary of Key differences between the IFRS for SMEs and full IFRS

Financial instruments

• Recognition
• Measurement
• Disclosures
• Key differences between the IFRS for SMEs and full IFRS

Inventories

• Recognition
• Measurement
• Disclosures
• Key differences between the IFRS for SMEs and full IFRS

Investment Property and Property, plant and equipment

• Recognition
• Measurement
• Disclosures
• Key differences between the IFRS for SMEs and full IFRS

Intangible Assets other than goodwill and Specialized activities

• Recognition
• Measurement
• Disclosures
• Key differences between the IFRS for SMEs and full IFRS

Revenue and Leases

• Recognition
• Measurement
• Disclosures
• Key differences between the IFRS for SMEs and full IFRS

1.0 Target Audience:

Entrepreneurs, SMEs Auditors, SMEs consultants, from Regulatory Bodies Representatives, Academia

2.0 Online Booking

Kindly note that booking for the IFRS for SMEs Workshop is available either online at www.icpak.com/events  or on the ICPAK Live –  A smart phone based application that is available from google store. Delegates are urged to note that the bookings close on 19th June 2017 at 1700 hrs

3.0 IFRS for SMEs Workshop Charges:

The Charges for IFRS for SMEs Workshop which cover workshop materials, meals, and e-certificates of attendance is as provided under;

 4.0 Continuous Professional Development Units – 14

Members of ICPAK and other reciprocating professional bodies will earn 14 CPD points upon successfully attending IFRS for SMEs Workshop

5.0 National Industrial Training Authority (NITA) Reimbursement

The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke).

6.0 Sponsorship Opportunities & additional information

The IFRS for SMEs Workshop attracts over 150 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through raphael.nguli@icpak.com

Further requests for the IFRS for SMEs Workshop can be channeled to us via telephone calls on +254 733 856 262/ 727 531006 or via email to emma.opiyo@icpak.com. We encourage you to regularly visit our website www.icpak.com  for more update