IFRS for SMEs - Practice course of the MSF Price Standard
Kreston Academy offers MSS Price Standard Training. The aim of the training is for the trainees to be able to introduce the International Financial Reporting Standard for Small and Medium-sized Enterprises (IFRS for SME’s) in a company of the appropriate size category, to record and compile financial statements according to this standard.
The training is interactive in nature and students will have the opportunity to answer questions about their practical cases.
The main part of the training will be led by Tamar Chkheidze, Managing Partner of Kreston Georgia, Practicing Auditor. The concluding meeting, which will discuss tax issues arising from the preparation of IFRS financial statements, will be chaired by Kreston Georgia's Managing Partner, Kreston Academy Tax Officer, David Papiashvili.
A video recording of each lecture is made and shared with the attendees. Access to the videos is maintained for up to one month after the end of the lectures.
A certificate will be issued at the end of the training.
Course Lecturer
Davit Papiashvili
Lecturer in Tax Law at ACCA, the Federation of Accountants and Auditors, and other institutions, a managing partner of Kreston Georgia, a member of the International Audit Network, a practicing auditor, and a tax dispute expert.
Tamar Chkheidze
Managing Director of Kreston Georgia Ltd. since November 2021. Headed the Financial Auditing Audit of Kreston Georgia Ltd. in 2017-2021, and the Financial Accounting and Reporting - 2012-2016. Since 2019, the Academy has been conducting trainings related to financial reporting: trainings on the introduction of the International Standard on Financial Reporting for Small and Medium-sized Enterprises (IAS Price) and Category IV Enterprise Standard, IFRS news and other thematic seminars.
Syllabus
Meeting 1
- Introduction, Introduction to IFRS, Overview;
- Sections 1, 2, 3, 4, 5, 6, 7, 8;
- Fixed Assets Accounting (Section 17) Practical Examples
Meeting 2
- Investment Property (Section 16);
- Accounting for Intangible Assets - Except for Goodwill (Section 18);
- Supplies (Section 13);
- Impairment of Assets (Section 27) Practical Examples
Meeting 3
- Accounting policies, estimates and errors (Section 10);
- Basic Financial Instruments (Section 11);
- Lease (Section 20);
- Accounts, contingent liabilities and contingent assets (21st section) Practical examples
Meeting 4
- Proceeds (Section 23) • State Grants (Section 24);
- Foreign Currency Transactions (Section 30);
- Expenditures related to borrowed funds; Remuneration of hired persons;
- Profit tax (25th; 28th; 29th) Practical examples
Meeting 5
- Consolidated and individual fin. Reporting (Section 9);
- Business Association, Goodwill (Section 19);
- Investments in affiliated enterprises (Section 14);
- Investments in Joint Ventures (Section 15) Practical Examples
Meeting 6
- The following events of the reporting period (Section 32);
- Explanatory Notes of Related Parties (Section 33);
- Biological assets in agricultural activities (Section 34) Practical examples
Meeting 7
- Practical examples of past issues;
- MIA IFRS (Section 35);
- Creating financial statements from accounting data with the help of Excel; (Build Cash Flow Reporting) Overview of uploading financial reporting data to the portal.
Meeting 8
- Review tax questions arising from the preparation of IFRS financial statements.
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