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Financial Statements - Impact of COVID on AFS

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Learning objectives  

By the end of this event the attendee should: 

• Be aware of the areas of the financial statements that will be affected by the pandemic, taking into account financial reporting issues and Companies Act considerations; 

• Be aware of important considerations and disclosure related to going concern and subsequent events; 

• Be able to assess the indicators of impairment relating to goodwill, tangible assets and financial assets; 

• Understand the accounting and impact of the pandemic on: 

  • Estimates; 

  • Provisions; 

  • Restructuring; 

  • Revenue; 

  • Leases; 

  • Forex; and 

  • Deferred Tax. 

• Be able to see how the pandemic has affected fair values and market values. 

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Content 

The webinar will cover the following topics:  

• The Companies Act and financial statements. 

• Financial statements presentation and disclosure: 

  • Statement of financial position. 

  • Statement of comprehensive income and income statement. 

  • Statement of changes in equity. 

  • Statement of cash flows. 

  • Notes to the financial statements. 

• Financial statements for different external users. 

• Dealing with complex transactions: 

  • Going concern and subsequent events. 

  • Impairment. 

  • Estimates. 

  • Provisions. 

  • Restructuring. 

  • Revenue. 

  • Leases. 

  • Forex. 

  • Deferred Tax.. 

• Overall disclosure of financial statements.