GAPSME Key Sections Refresher Course

GAPSME (General Accounting Principles for Small and Medium-Sized Entities) serves as the default accounting framework in Malta for accounting periods starting on or after 1 January 2016. Whilst this accounting framework is generally adopted by most small and medium-sized companies in Malta, these entities are still allowed to report under IFRSs (International Financial Reporting Standards). On the other hand, should entities be categorized as large companies, they must adhere to IFRSs (International Financial Reporting Standards).

OBJECTIVES

This 6-hour seminar, split over two sessions, aims to provide attendees with a comprehensive refresher on the main areas of interest within General Accounting Principles for Small and Medium-Sized Entities (GAPSME) at both financial accounting and financial reporting presentation levels. These sessions will serve as an opportunity for attendees to refamiliarize themselves with the most important topics within the GAPSME legislation while also looking into the differences between IFRS and GAPSME. The sessions will also include various illustrative examples to assist the attendees' in better understanding all concepts at hand.

TOPICS ON THE AGENDA

• Financial Instruments
• Investments in Subsidiaries, Associates and Joint Ventures
• Related Party Disclosures
• Leases
• Investment Property
• Intangible Assets
• Revenue

TARGET AUDIENCE

This course is specifically targeted to accounting professionals and students, especially those who are pursuing or intend to pursue a career in audit or financial reporting.

The Speaker

Neville Saliba graduated from the University of Malta in 2020 after the completion of the Master in Accountancy Degree. He joined the Accounting Advisory department at Zampa Debattista in 2022, prior to which he gained experience in client accounting at one of the big-four firms. In 2023, Neville has taken up the role of leading the Financial Reporting department at Zampa Debattista allowing him to specialise further in IFRS, Consolidations, Conversions between different financial reporting frameworks, GAPSME and ESG reporting.

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