Financial Management Workshop for SMEs

INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

FINANCIAL MANAGEMENT WORKSHOP FOR SME’s

22^nd – 23^rd MARCH 2018

VENUE: HILTON HOTEL – NAIROBI

Overview:

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 several ways:

• Topics not relevant for SMEs are omitted; for example, earnings per share, interim financial reporting and segment reporting
• Many principles for recognising and measuring assets, liabilities, income and expenses in full IFRS are simplified. For example, amortise goodwill; recognise 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 a two-day seminar to address key bottlenecks to SMEs businesses and performance growth and offer practical solutions to overcome these challenges as well as discussing other key issues holding SMEs to access growth investment.

Objectives:

The specific training objectives will be as follows;

1. Financial statements presentation

• Statement of financial position
• Statement of comprehensive income and income statement
• Statement of changes in equity and statement of income and retained earnings
• Statement of cash flows
• Notes to the financial statements
• Consolidated and separate financial statements
• Accounting policies, estimates and errors
• Key differences between the IFRS for SMEs and full IFRS

2. Inventories

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

3. Intangible Assets other than goodwill, business combination and goodwill

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

4. Revenue

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

5. Invoice Discounting

• Cost Analysis
• How it’s done, challenges and advantages
• Time value for money

6. Under Capitalization: borrowing Vs. Business Sustainability (debt & capital jump up)

 Target audience:

Accountants with start-up businesses, Business people, academia and consultants

Seminar Charges:

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

Continuous Professional Development Units:

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

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).

Sponsorship Opportunities & additional information

The Financial Management Workshop for SMEs attracts over 100 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Companies interested in sponsoring the event can reach us through raphael.nguli@icpak.com

Further requests for this workshop can be channelled to us via telephone calls on +254 733 856 262/ 727 531006 or via email to brenda.imali@icpak.com . We encourage you to regularly visit our website www.icpak.com for more updates.