The NFRS for SMEs standards were initially approved by the Accounting Standards Board, Nepal, in 2075, and announced by the Institute of Chartered Accountants of Nepal (ICAN) to be effective from 1st Shrawan 2078. However, ICAN later extended the mandatory effective date to 1st Shrawan 2080, making NFRS for SMEs applicable from the fiscal year 2023-24 (i.e., FY 2080-81).
This training session, conducted online via Zoom, offers a convenient and interactive platform for learning. It will serve as a practical guide to help SMEs transition smoothly to NFRS for SMEs standards, ensuring compliance and leveraging the numerous benefits of standardized financial reporting.
The course content is structured to address the specific challenges faced by SMEs during the transition to NFRS for SMEs standards, such as understanding categorization thresholds, identifying major gaps, and overcoming implementation obstacles. Participants will gain insights into the nuances of NFRS for SMEs, from the recognition and measurement of financial elements to the details of first-time adoption guidelines.
By participating in this training, Accountants, Accounts officers, Finance Managers, Auditors, and aspiring professionals can enhance your knowledge of financial reporting standards specific to SMEs. This investment in training will support your overall growth and success in a competitive business environment.
Course Content
This comprehensive training on "NFRS for SMEs" is designed to equip small and medium enterprises with the necessary knowledge and skills to implement the Nepal Financial Reporting Standards (NFRS) for SMEs effectively. The topics covered in the sessions are:
Day 1
1. Introduction to NFRS based financial reporting framework.
2. Categorization thresholds for large entities, SMEs and MEs.
3. Major gaps upon transition to NFRS including:
a) Property, plant and equipment.
b) Employee benefit expenses
Day 2
4. Major gaps upon transition to NFRS including:
a) Financial instruments
b) Taxation
c) Foreign exchange transactions.
5. Challenges on NFRS implementation and the way out.
6. First time adoption guidelines.
Methodology of Training
Below is the basis modality for the delivery of the training:
Benefits
*Payment once made is not refundable.
To enroll in the training, please "CLICK HERE."
