SHORT COURSES
1. IFRS 16 LEASE ACCOUNTING (ONE DAY ONLINE TRAINING)
About this course:
Non-current assets can be owned or rented. According to IFRS 16 the accounting model for lessee and lessor is not symmetrical. Lessees have to recognise lease liability and right-of-use asset for almost all lease contracts, while for lessors the accounting model depends on the classification of a lease as operating or finance lease.
This course helps you understand the definition of a lease, explains what period shall be considered as lease term, explains recognition and measurement exemptions, after which details the lessee’s as well as the lessor’s accounting using practical examples and interim tests.
By completing this course, you will be able to:
- Learn the features of a contract which indicate that the contract contains a lease (substitution right, protective rights)
- Learn the transaction price allocation rules when separating components of a contract
- Learn the concept of variable payments in a contract
- Learn criteria for recognition and measurement exemptions
- Learn how to identify the lease term
- Learn lessee and lessor accounting.
- Explain the fundamental requirements of IFRS 16 including key changes from IAS 17.
- Understand the new business perspective and the main changes brought by the new standard IFRS 16.
- Identify the common challenges and pitfalls when applying the requirements of IFRS 16.
- Explore the frequently asked questions raised by companies and auditors.
- Explain key disclosure requirements.
- Use relevant case studies and scenarios to understand how the requirements should be applied and how it is likely to affect you.
- Identify commercial arrangements in interpreting criteria such as ‘definition of a lease’, ‘identified asset’ and ‘lease term’ and the impact on accounting outcomes.
Target Audience
- Finance Directors
- Head of Finance
- Chief Finance Officers
- Accounts Managers
- Accountants
- Internal Auditors
Venue & Dates -> Online Course – 27 February 2025
Course Fee -> R599.00
2. IFRS – FUNDAMENTAL CONCEPTS (INTRODUCTORY COURSE)
If you would like to dive into the world of international financial reporting standards (IFRS), you have to be aware what IFRS and IAS means, what the difference between the standards and the conceptual framework is, what the fundamental definition of assets and liabilities is, etc. This course provides answers to these questions using practical examples.
The course consists of two parts. First part, after the introduction to the IFRS, explains the most important concepts of the Conceptual Framework. In the second part IAS 1 Presentation of financial statements standard’s requirements are presented including practical examples and interim tests to enhance understanding.
By completing this course, you will be able to:
- Understand the concept of international financial reporting standards
- Identify main features of the Conceptual Framework
- Understand the qualitative characteristics of useful financial information (fundamental and enhancing)
- Decide whether the standard or the conceptual framework prevail in case they are in conflict with each other
- Evaluate the principles of recognition, derecognition and measurement, including measurement uncertainty and materiality.
- Distinguish main accounting considerations and define which are applicable to the primary statements (statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and notes)
- Understand the importance of international financial reporting standards
- Discuss IFRS 1 — first-time adoption of international financial reporting standards.
- Discuss common accounting standards
- Discuss IAS 1 – Presentation of financial statements
- Discuss IFRS 7 – Statements of Cash flow
- Discuss IAS 8 – Accounting policies, changes in accounting estimates and errors.
Discuss IAS 37 – Provisions, contingent liabilities and contingent assets
3. IFRS 15 REVENUE FROM CONTRACTS WITH CUSTOMERS
According to IFRS 15 revenue depicts transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to be entitled to, in exchange for those goods or services. How can we define this consideration? How do we recognise revenue within one contract, if we sell a good and a service for one combined price? What amount is recognised as revenue if a customer can claim a refund three months after delivery?
This course explains the five step approach in detail using practical examples and interim tests.
By completing this course, you will be able to:
- Learn the scope of IFRS 15 and the five step approach
- Discuss the concept of contract with the customer, including situations of contract combination and contract modification
- Learn how to identify performance obligations in the contract
- Discuss the transaction price and the effects of variable consideration, significant financing component, non-cash consideration
- Discuss how to allocate the transaction price
- Discuss the revenue recognition pattern at a point in time or over time.
- Know how to apply the five-step recognition method
- Know how to present revenue from contracts with customers in the AFS; and
- Understand the disclosure of revenue from contracts with customers.
This course is ideal for accounting and finance professionals, auditors, and students who want to enhance their understanding of IFRS 15 and its application to revenue recognition. It is also valuable for business owners, managers, and consultants who are involved in financial reporting and contract management. Whether you are a beginner seeking foundational knowledge or an experienced professional looking to refine your expertise, this course is designed to meet your needs.
Venue & Dates -> Online Course – 27 June 2025
Course Fee -> R599.00
4. PUBLIC FINANCIAL MANAGEMENT COURSE (PFMA- THREE DAYS)
Why Should You Attend:
Effectively performing the functions of budgeting, financial management, asset and risk management, internal control, accounting and reporting specialist in national and provincial treasuries, the offices of chief financial officer in national and provincial departments and in municipalities requires a wide range of skills, knowledge and professional ethics and competences.
This APS course in Public Financial Management provides you with the requisite insights to the implementation and implications of the Public Finance Management Act (PFMA) of 1999 (as amended) on your role as middle or senior financial manager in the public sector.
The course covers important topics required for sound public financial management to enable accounting officers comply with National Treasury regulations
Course Outcomes
By completing this course, you will be able to:
- Understand the basic concepts and principles necessary for sound financial management in the public sector
- Comply with the requirements of the Public Financial Management Act
- Comply with the Treasury Regulations
- Apply the principals of financial management in the efficient and effective management of their departments
- Have a clear understanding of the Act and how it can help them assess the financial performance and health of their departments
- Apply the principles of effective reporting.
- Discuss governance and internal controls
- Manage revenue, assets and liabilities
Target Group
The Course is designed for all Public Sector Junior and Middle Management Accounting officers. Its primary purpose is to improve the finance function and operation efficiency of public officials within the public sector in compliance with the requirements of the Public Finance Management Act and other supporting legislation. The course is also aimed at anyone who requires a working knowledge of the PFMA.
Venue & Dates -> Pretoria – 16 – 18 July 2025
Course Fee -> R8 999.00
5. IFRS 9 - FINANCIAL INSTRUMENTS
COURSE NO. PF04
Many entities struggle with accounting recognition, measurement, presentation and disclosure relating to financial instruments. Financial instruments exist in all entities and must be correctly accounted for in terms of the new and simplified IFRS 9 Financial Instruments, which replaces the former IAS 39 Financial Instruments: Recognition and Measurement.
This new Standard which is mandatorily effective from 1 January 2018, also includes requirements for impairment, derecognition and general hedge accounting.
By completing this course, you will be able to:
- Understand how to correctly recognise financial instruments.
- Understand how to accurately measure financial instruments.
- Know the requirements for impairment of financial instruments.
- Know when and how to derecognise financial instruments; and
- Understand general hedge accounting.
6. GRAP – FUNDAMENTAL CONCEPTS (FOUR DAYS)
Why Should You Attend:
Municipalities and public entities prepare their financial statements in terms of Standards of Generally Recognised Accounting Practices (GRAP), therefore it is a necessity for public sector finance officials to have an understanding of the Standards of GRAP Fundamental Concepts are kept up-to-date with key changes in the standards.
GRAP Fundamental Concepts provides detailed and in-depth knowledge for the implementation and financial reporting as required by the Generally Recognised Accounting Practice (GRAP) Standards, as applicable to South African public sector entities and their officials, as well as for the International Public Sector Accounting Standards (IPSAS) for the international public sector upon which the GRAP standards are based.
Introduction Standards of Generally Recognized Accounting Practice (GRAP) issued by the Accounting Standards Board and IFRS Principles are a comprehensive reporting framework that is compulsory for the South African Public Sector. Apart from providing a common principle- based reporting framework for general purpose financial statements, Standards of GRAP promote accountability, transparency, and effective management of revenue, expenditure, assets and liabilities of the institutions to which the Standards apply. IFRS Principles helps organizations achievement of these goals contributes towards government’s objectives in improving service delivery to the citizens of our country.
Course Objectives:
BY COMPLETING THIS COURSE, YOU WILL BE ABLE TO:
- Discuss GRAP Updates
- Provide a theoretical background with examples and scenarios that will assist audit professionals with obtaining a detailed understanding of the GRAP Standards
- Explain and apply the conceptual framework underlying GRAP
- Present separate periodic financial statements in accordance with GRAP
- Accounting standards and the legislative framework
- Learn how to prepare IFRS financial statements, including statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity
- Differentiate between changes in estimates and changes in accounting policies
- Improve knowledge and understanding of the global trends for International Financial Reporting Standards
- Discuss key GRAP Standards
- Comprehend the transition challenges and approaches in moving to Internationally accepted reporting norms of IFRS
Who will benefit from this training course?
GRAP Fundamental Concepts is ideal for you if you are:
A financial or non-financial official from public sector entities who applies GRAP/IPSAS, e.g.
- Municipal Managers,
- Chief Financial Officers,
- Departmental/Division Managers (e.g. Assets, Revenue, Expenditure etc.)
- an official involved in GRAP/IPSAS compliant Annual Financial Statements (AFS) compilation or processing of information included in the AFS, and
- an official in the employ of the National Treasury as well as the various Provincial Treasuries who advise and guide South Africa public sector entities in the application of GRAP.
Venue & Dates -> Johannesburg 28 – 31 October 2025
Course Fee -> R11 999.00
7. MACHINE LEARNING: AN INTRODUCTION FOR FINANCE PROFESSIONALS
Why Should You Attend:
This introductory course looks at machine learning from a user perspective.
Machine learning is a sub-set of artificial intelligence (AI) and is generally understood as the ability of the system to make predictions or draw conclusions based on the analysis of a large historical data set.
Increasingly used in accounting software and business process applications, as a finance professional, it’s important to develop your understanding of machine learning and the needs of the accountancy profession.
By completing this course, you will be able to:
- demystify the terminology of Artificial Intelligence (AI)
- what machine learning is and how it fits into the AI landscape
- the techniques used in machine learning
- the applications for accountancy and finance
- the tools used by practitioners – Python and Jupyter Notebook
- ethical issues and the benefits of machine learning.