PFRS UPDATE: Learn to apply judgment on what to disclose in the notes to FS
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Event description
This webinar discusses a practical approach when making materiality judgment ensuring FS disclosures are much relevant to primary users.
About this event
Often, we are faced with a dilemma whether a certain item needs to be disclosed in the notes to financial statements (FS). Classifying and reporting certain transactions, events or amounts requires a “sound application” of professional judgement. The quality and integrity of the judgements made give rise to correct numbers being reflected in the financial statements. Ivan, I. (2016).
- New ‘materiality’ definition
- Materiality process
- Applying materiality judgment (i.e., short case analysis)
- Accounting policy vs. estimate
- Significant accounting policy (SAP)
- Amendments to PAS 1 Disclosure of material accounting policy information (MAPI)
- Change in accounting estimate
- Amendments to PAS 8: Definition of Accounting Estimates'
This webinar is for experienced auditors and FS preparers.
Course level: Intermediate
Order of the day
- 09:30 – Attendance and check-ins
- 10:00 – Webinar proper with quick breaks in between
- 11:40 – Q&A
- 11:50 – Kahoot games (with prizes)
It's best practice to check-in early to sort any technical issues.
Note: This webinar will not earn you CPD credit.
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Organizer Jovani of Account2Things
Organizer of PFRS UPDATE: Learn to apply judgment on what to disclose in the notes to FS