A Tale of Two GAAPs: IFRS and GAPSME

This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on kla@kpmg.com.mt or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.

Course Description:

By default, local SMEs prepare their financial statements under GAPSME. However, some SMEs may wish to adopt IFRSs. Moreover, some companies may be wary of the change in reporting requirements should they exceed the size thresholds specified in GAPSME. In comparison to IFRS as adopted by the EU, GAPSME includes a number of differences in the measurement, recognition and disclosure requirements of an entity. The extent of such differences may vary depending on the size of the entity and nature of items in the financial statements. Participants will be provided with a detailed look at the differences in reporting requirements under GAPSME as opposed to full IFRS.

Target Audience:

The session is aimed for those accounting professionals seeking to gain more knowledge on GAPSME and to gain a clearer understanding of the differences between the reporting requirements under GAPSME and IFRS. It is also suitable for recent graduates and university students.

Learning Outcomes:

By the end of the session participants would be knowledgeable of the key differences between GAPSME and IFRS.

Prerequisites:

Basic knowledge on financial reporting under GAPSME or IFRS is recommended.

Venue: Kindly contact us on kla@kpmg.com.mt to indicate your preferred training method; online or in-person.

CPE Hours: This course qualifies for 3 hours of Structured CPE which can be classified as Core Competency. A certificate of attendance will be provided at the end of the session.

Trainers:

Eldon Agius, Assistant Manager, Corporate Accounting Advisory Services, KPMG Malta

Eldon Agius joined KPMG in 2019 upon completion of his Master in Accountancy Degree at the University of Malta. Eldon mainly delivers technical advice on the adoption of IFRSs and other complex financial reporting matters to a wide range of local and international clients. Eldon also delivers technical training to clients on specific IFRS matters.

Dylan Seracino, Assistant Manager, Corporate Accounting Advisory Services, KPMG Malta

Dylan Seracino

Dylan holds the role of Assistant Manager within the Corporate Accounting Advisory Services (CAAS) team in Malta, providing technical advice and assistance to clients in achieving compliance with accounting standards. Following a three-year period as a trainee with KPMG Malta, Dylan joined the AAS team on a full time basis in March 2020. He provides technical advice to clients operating in diverse industries. Dylan has been involved in the preparation of financial statements for multiple clients across diverse industries. He has also been an integral team member in developing MS Excel based accounting tools such as Expected Credit Loss models for financial instruments and depreciation models for property, plant and equipment. Dylan is also passionate on assisting clients with automated functions and tailor-made solutions in accordance with the financial reporting requirements emerging from IFRS. His dissertation, in partial fulfilment for the award of the Master in Accountancy degree, explored the management accounting systems used by micro-joiners in Malta.