Introduction to Farming Accounts & Auditing

• To examine the accounting for assets and liabilities related to agriculture sector
• Understand the core elements of IAS 41 for agricultural activities that governs:
  • accounting treatments,
  • financial statement presentation, and
  • financial statement disclosures
• Consider the key classifications within agricultural activities and the accounting challenges each item presents
• To enhance technical skills need to comply with the recognition and measurement
• Conceptualise the issues surrounding key estimates and fair value determination
• Gain an understanding of the essential auditing requirements related to agricultural activities, including:
  • general and specific risk assessment,
  • materiality concepts,
  • agriculture audit procedures applied, and
  • fairly presented outcome determination
• Consider any likely changes to this area of specialisation going forward
• To provide practical guidance on disclosure requirements
• To provide guidance on first-time adoption of IAS41
• Develop strong technical skills through the use of Practical Exercise and Case Studies underlining the core course deliverables

The trainer is an international expert in training course development and delivery, with a focus on financial and business management. The accounting and finance courses are designed to be industry-specific and address many industry sectors and are all based on deep knowledge acquired by working in those economic sectors with their development bases in IFRS.

The trainer has extensive experience in providing professional training around the world over the past 20+ years and has worked with companies operating in various economic sectors of the economy – banking, governments, manufacturing, mining and agricultural accounting, retail, service delivery and SMEs across most industry segments.

The trainer brings technical and practical experience obtained through 10 years with Deloitte; where he was both technical director and audit client service partner for companies such as Microsoft, Procter & Gamble, SAB Miller and General Motors, and has worked on various audit engagements in the manufacturing, service and farming accounting sectors.

This highly interactive workshop-style webinar has been designed to give either a comprehensive introduction or a comprehensive refresher to the requirements of IAS 41 – Agriculture. This unpretentious standard can be particularly demanding in its application without a strong experiential background in agricultural activities; a topic which is both broad in scope and full of practical complexity. It is suitable for those wishing to hone up or refresh existing skills.