GAPSME Key Sections Refresher Course

This six-hour course (split over two sessions of three hours each) provides a high-level but practical overview of the General Accounting Principles for Small and Medium-Sized Entities (GAPSME). The session is designed to help participants strengthen their understanding of the key principles within the framework, whilst also appreciating some of the practical considerations commonly encountered in practice.

The first 2 hours of the course will focus on general applicability matters, including:

• Size considerations
• Group considerations
• Key principles and disclosure requirements

This part of the session will also include practical case studies based on the revised size thresholds introduced through the relevant EU Directive developments.

The remainder of the session will focus on a number of key sections of GAPSME at a high level, including:

• Revenue
• Property, Plant and Equipment
• Investment Property
• Intangible Assets
• Non-Current Assets Held for Sale
• Financial Instruments
• Investments in Subsidiaries, Associates and Joint Ventures
• Government Grants
• Leases
• Provisions and Contingencies
• Post Balance Sheet Events
• Related Party Disclosures

For the avoidance of doubt, this CPE session will not delve into the following areas:

• Deferred tax considerations
• Impairment considerations
• Discontinued operations
• Inventories
• Foreign exchange considerations
• Business combinations and consolidation principles (except from an applicability perspective)
• First-time adoption of GAPSME

The session is intended for accounting students, accountants and finance professionals seeking a clearer and more practical understanding of GAPSME and its application in practice.

The Speaker

Paul Zammit is a freelance technical accountant specialising in IFRS and Malta GAPSME, with a strong focus on financial reporting training and advisory services. He regularly delivers CPE sessions to accounting professionals and provides technical support to practitioners seeking to deepen their understanding of accounting standards and their practical application.

Paul has built his professional reputation on simplifying complex accounting requirements and presenting them in a clear, structured, and engaging manner. He works closely with accounting firms and finance teams on IFRS advisory, disclosure reviews, and technical problem-solving, particularly in areas requiring judgement and careful interpretation of the standards.

In addition to his technical work, Paul is actively involved in professional training and coaching, helping accountants build confidence in applying IFRS in practice rather than treating standards as purely theoretical material.