A Tale of Two GAAPs: IFRS and GAPSME

A Tale of Two GAAPs: IFRS and GAPSME

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.

Date: 23/06/2022

Time: 14:00 – 17:15 (including 15 minutes break)

Venue: Live online session – details of how to join the meeting will be sent once registration is complete

Fee: €40

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, Advisor, Accounting Advisory Services, KPMG in Malta

Eldon Agius

 

 

 

 

 

 

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, Advisor, Accounting Advisory Services, KPMG in Malta

Dylan Seracino

Dylan holds the role of Advisory Assistant within the Accounting Advisory Services (AAS) 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.

Kindly note that this session entitles the attendee to 3 KPMG Loyalty Rewards. After collecting 60 Loyalty Rewards, attendees will be entitled to a free CPE session of their choosing. Visit our Loyalty Rewards page to learn more.

Moreover, for every three courses booked from our KPMG Learning Suites, attendees receive a discount voucher of 40% to be redeemed on their next course purchased from any Learning Suite!

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Is your employer paying for your CPE seminars? Contact us on kla@kpmg.com.mt to discuss how the employer can benefit from our offers.

Course Features

  • Guided Learning 3 hours
  • Language English
  • Assessments
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 holds the role of Advisory Assistant within the Accounting Advisory Services (AAS) 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.