IFRS for SMEs

IFRS for SMEs
Train the Trainer Workshop
A Global Journey for Enhanced Financial Reporting
Hosted by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka)
19-21 August 2013
CA Sri Lanka, Members’ Lounge
Colombo, Sri Lanka

IFRS for SMEs
Small and Medium-sized Entities (SMEs) are a vital component in the economy of any country. SMEs
have been recognized as the backbone of any economy. Over the years, SMEs have gained wide
recognition as a major source of employment, new business creations, income generation, poverty
alleviation, regional development and value addition. Thus, by virtue of its dynamism it contributes to
the growth of all other sectors.
Why do we need the IFRS for SMEs
• High quality globally accepted financial reporting standard – carefully applied – benefits many
stakeholders:
- Information is understandable
- Reduces compliance costs
- Owners / Capital providers have confidence
- Removes uncertainties that affect their cost of capital
• Improve consistency in audit quality
• The IFRS for SMEs is a completely stand-alone IFRS tailored for SMEs, which are estimated to
account for over 95 per cent of all companies around the world. It is much smaller and simplified
from full IFRSs.
Workshop Objectives:
To develop the capacity of regional trainers to provide subsequent training on the IFRS for
SMEs in their own jurisdiction, i.e. to equip pre-existing local financial reporting trainers in the
use of the IFRS Foundation training material, particularly within developing and emerging
economies.
To engage with other stakeholders (legislators/regulators) to promote adoption and high
quality implementation of the Standard
To provide a forum for interaction between trainers, for the sharing of experience
and the discussion of common issues in relation to the IFRS for SMEs.
The workshop and subsequent local roll-out of similar training will assist to establish internationally
accepted financial reporting standards and thus increase confidence in financial reporting and the
benefits that brings to those economies that adopt the Standard.
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IFRS for SMEs
Train the Trainer Workshop

Speakers Profiles
Michael Wells
Director, IFRS Education Initiative
Michael Wells leads the education initiative of the IFRS Foundation. He qualified as a South African
chartered accountant with Ernst & Young before being seconded to work out of the firm's Detroit office.
He subsequently joined the academic world and became the Associate Professor responsible for the
financial accounting section of a South African university. He also served as an independent evaluator
of professional qualifying examinations. He is a member of a number of international accountancy education
advisory groups
Darrel Scott
Board Member IASB, Chairman of the
SME Implementation Group
Darrel Scott was formerly CFO of the FirstRand Banking Group, one of the largest financial institutions
in South Africa. He had responsibility for both statutory and regulatory financial reporting under the
Basel II Accords and served on various Governance, Risk, Operation and Strategic Committees of the
Group.
Mr. Scott was also a member of the IASB's International Financial Reporting Interpretations Committee
(IFRIC), a position from which he resigned to become an IASB member, and was formerly a
member of the IFRS Foundation's Standards Advisory Council (SAC), now called the IFRS Advisory
Council.
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IFRS for SMEs
Train the Trainer Workshop

Workshop outline
Day 1 – Monday, 19 August 2013
Time Session details Speakers
8:00-10:00 Details of workshop
Overview of IFRS for SMEs
10:00-
10:30
10:30-
11:30
11:30-
12:30
12:30-
13:30
13:30-
15:30
Bullet points covering all Sections 1-35,
including highlight of differences with full
IFRSs
Tea break
Scope and concepts
Sec 1 SMEs
Sec 2 Concepts and Pervasive Principles
Quiz and discussion
Lunch
Financial statement presentation
Sections 3 to 8 Financial Statements
Sec 10 Accounting Policies, Estimates and
Errors
Sec 32 Events After the End of the
Reporting Period
Section 33 Related Party Disclosures
Part of Sec 30 Foreign Currency Translation
Michael Wells
Director, IFRS Education Initiative
IASB
Darrel Scott
Board Member IASB, Chairman
of the SME Implementation Group
15:30-
16:00
16:00-
17:00
17:00-
18:00
Tea break
Revenue
Sec 23 Revenue
Quiz and discussion
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IFRS for SMEs
Train the Trainer Workshop

Workshop outline
Day 2 – Tuesday, 20 August 2013
Time Session details Speakers
8:00-10:00 Financial Instruments
Sec 11 Basic Financial Instruments
Sec 12 Other Financial Instrument
Issues
Sec 22 Liabilities and Equity
10:00-10:30 Tea break
10:30-11:30 Financial instruments continued
Sec 12 Financial Instruments
Portion of Sec 30 Foreign Currency
Translation dealing with foreign currency
hedging
11:30-12:30 Quiz and discussion
12:30-13:30 Lunch
13:30-15:30 Assets:
Sec 13 Inventories
Sec 17 Property Plant and Equipment
Sec 18 Intangible Assets
Sec 27 Impairment of Assets
15:30-16:00 Tea break
16:00-17:00 Assets, continued
Sec 14 Associates
Sec 15 Joint Ventures
Sec 16 Investment property
17:00-18:00 Quiz and discussion
Darrel Scott
Board Member IASB, Chairman
of the SME Implementation Group
Michael Wells
Director, IFRS Education Initiative
IASB
Day 3 – Wednesday, 21 August 2013
Session details
8:00-10:00 Liabilities
Sec 20 Leases
Sec 21 Provisions and Contingencies
Sec 28 Employee Benefits
10:00-10:30 Tea break
10:30-11:30 Liabilities, continued
Sec 29 Income tax
11:30-12:30 Quiz and discussion
12:30-13:30 Lunch
13:30-15:30 Other issues
Sec 9 Consolidation
Sec 19 Business Combinations
Part of Sec 30 Foreign Currency
Translation
15:30-16:00 Tea break
16:00-17:00 Other issues
Sec 35 Transition
17:00-18:00 Quiz and discussion
Speakers
Michael Wells
Director, IFRS Education
Initiative
IASB
Darrel Scott
Board Member IASB, Chairman
of the SME Implementation
Group
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IFRS for SMEs
Train the Trainer Workshop

VISA
With regard to VISA processing for entering Sri Lanka, the following three options are available:
1. Visa confirmation through ETA ( Electronic Travel Authorisation system Please visit
http://www.eta.gov.lk)
Step 1 Fill the details on the web link
Step 2 Online payments through credit card (Approximately 20 USD)
Step 3 Confirmation and the reference number will appear on the screen (Take
a print out of the confirmation).
Step 4 Submit the reference number and the confirmation printout at the
airport.
2. Visa on Arrival to Sri Lanka
The delegate can come to Sri Lanka and get On Arrival VISA at the Airport Sri Lanka Immigration
& Emigration Department Counter ( Payment of Approxi mately 25 USD will be required )
3. Manual Visa processing through the Sri Lankan Embassy at the
respective countries.
We recommend the first option, as it is convenient, straight forward
and well accepted.
Hotel accommodation
Hotel Galadari is the official hospitality partner for the event and is recommended for stay in Colombo-
Sri Lanka.
CA Sri Lanka has negotiated special rates for delegates and reserved a limited number of rooms, in
addition to free internet access in rooms, free shuttle service to and from the venue of the workshop
and special early check-ins 06.30hrs / special late checkouts 18.00hrs free of charge.
Should you wish to make your hotel reservations at Hotel Galadari, please use the attached reservation
form to enjoy the special rates offered.
If you have any questions for hotel booking, please contact:
Mr. UdeshPerera
Galadari Hotel- Reservations Supervisor
Email; reservations@galadarihotel.lk
or
Mr. Mohamed Naizer
Galadari Hotel - Senior Manager, Marketing & Sales
Email: naizer@galadarihotel.lk
Galadari Hotel
No.64, Lotus road, Colombo1, Sri Lanka
Phone no.: +94-11-2544544 / Fax no.: +94-11-4790603
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IFRS for SMEs
Train the Trainer Workshop

Holel Reservation Form
IFRS FOR SMES – WORKSHOP
RESERVATION FORM
19-21 AUGUST 2013
Hosted by CA Sri Lanka
Experience a world of ease, luxury and Sri
Lankan hospitality in its finest resemblance at
the Galadari Colombo. Ease and rejuvenate in
our spacious luxurious rooms excelling in
modern amenities, sophistication and a
stunning, incomparable view of the Ocean.
Come, delight & breathe an air of luxury at the
Galadari!
Please send this form before 17 August 2013
directly to:
Mr. UdeshPerera
Reservations Supervisor
Email; reservations@galadarihotel.lk
Mr. Mohamed Naizer
Senior Manager, Marketing & Sales
Email: naizer@galadarihotel.lk
Galadari Hotel
No.64, Lotus road, Colombo1, Sri Lanka
Phone no.: +94-11-2544544 / Fax no.: +94-11-
4790603
All emails should be sent to
reservations@galadarihotel.lk with a copy to
naizer@galadarihotel.lk / ghsales@galadarihotel.lk/
nuwan.dishan@casrilanka.com
GUEST INFORMATION
Accommodation Reservation
Family/surname : Given name :
Company :
Position/Job title :
Telephone no. : Fax no. :
Email :
RESERVATION INFORMATION
Check-in date : Flight No. : Time :
Check-out date : Flight No. : Time :
Number of nights’ accommodation required :
Room type
Superior Deluxe Room - Single
Special Room Rate
USD 134.00 ++++ (USD 171 nett)
Tick preferred
room type ( )
No. of
guests per
room
Superior Deluxe Room - Double USD 143.00 ++++ (USD 183 nett)
The above room rates are subject to 10% Service Charge, 1% TDL, 2.04% Nation Building
Tax & 12% Value added Tax.
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IFRS for SMEs
Train the Trainer Workshop

All guests staying at the Galadari Hotel are entitled to the following complimentary services:-
• All Guests upgraded to Superior Deluxe Floor
• Internet access in guests rooms FOC
• Transport (shuttle bus) from Hotel to Conference Venue
• Complimentary use of the Gymnasium, Sauna, Steam bath and Swimming Pool
• Guest rooms will be offered 2 bottles of mineral water per day / platter of fruits on day of
arrival
• Daily news paper and tea making facility in room.
• In built safe, bathrobe, slippers and all amenities
• Special early check in for CA delegates at 6.30hrs FOC/ Late check out at 18.00hrs FOC
Special request/remarks :
Transportation Reservation
AIRPORT TRANSFER SERVICE
Please specify Non Smoking / Smoking room preferred.
Service required for (please state ‘Yes’ or ‘No’) : Arrival : Departure :
Vehicle type (capacity)
Rental cost (per vehicle)
Tick preferred
vehicle type ( )
No. of guests per
vehicle
A/C Car ( 2 Passengers )
USD 42.00Nett (Pick-up)
A/C Van ( 6 Passengers)
USD 65.00 Nett (Pick-up)
A/C Car ( 2 Passengers )
USD 42.00 Nett (Drop-off)
A/C Van ( 6 Passengers)
USD 65.00 Nett (Drop-off)
Reservation Guarantee
GUARANTEE INFORMATION ** Payment will be made by cash on arrival of the guest.
Credit card details are required to guarantee a reservation. Please provide the following information.
Card type (please indicate) : Amex Master card Visa
Card holder’s name :
Credit card number :
Card expiry date : Signature :
HOTEL TERMS & CONDITIONS
Standard check-in time: after 12:00noon
Standard check-out time: before 12:00 noon
Early arrivals or late departures: -
• Early Check-in after 6.30hrs- FOC
• Late Check-out at18.00hrs – FOC
Amendment / Cancellation policy:
Any amendments or cancellations should reach the hotel 24 hours prior to guest’s arrival.
Pleased to inform you that the Hotel will not charge for no shows. However, transport cost of US$ 42/= will be
charged for no shows without 24hrs. prior notice
FOR HOTEL USE ONLY
Confirmation number :
Confirmed by :
Confirmation
date :
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IFRS for SMEs
Train the Trainer Workshop

Registration Form
Please complete the Registration Form and return to nuwan.dishan@casrilanka.com by August 12, 2013.
Inquiries:
Nuwan Dishan | Deputy Manager CPD
The Institute of Chartered Accountants of Sri Lanka
30A, Malalasekera Mawatha
Colombo 07
Sri Lanka
Office : +94 (0) 11 2352045 Ext. 1204
Mobile : +94770552524
Fax : +94 (0) 11 2352060
Email : nuwan.dishan@casrilanka.com
Registration Fee: USD 160 per non-resident
Per resident CA Sri Lanka member ~ LKR 15,000
Per resident non member ~ LKR 20,000
The Workshop will be conducted in English. Refreshments and lunch will be provided free of charge to all delegates.
Delegates are, however, responsible for all hotel accommodation charges.
PERSONAL DETAILS
Mr. Mrs. Ms. Other (Please indicate as appropriate)
_____________________________________________________________________________________________
First/Given Name:
_____________________________________________________________________________________________
Surname/Family Name:
_____________________________________________________________________________________________
Which member body are you representing (or indicate the name of your organization if you are a speaker or attending in
another capacity)
_____________________________________________________________________________________________
Position at above organization: (e.g., President)
______________________________________________________________________________
Address 1:
_____________________________________________________________________________________________
Address 2:
City: _________________________ Post/Zip Code: _______________________ Country: __________________
Telephone: ______________________________________ Fax: ______________________
_____________________________________________________
Email:
VISA REQUIREMENTS
Invitation letter required Yes No.
Note:
Invitation letter will be sent through email only on request
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IFRS for SMEs
Train the Trainer Workshop

The Institute of Chartered Accountants of Sri Lanka
30A, Malalasekera Mawatha
Colombo 07
Sri Lanka
Office : +94 (0) 11 2352045 Ext. 1204
Mobile : +94770552524
Fax : +94 (0) 11 2352060
www.casrilanka.com