INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

FINANCIAL MANAGEMENT WORKSHOP FOR SME’s

22nd – 23rd 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

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