Registration Time: 13:15
Sessions Time: 13:30 - 16:45  including a 15-minute break
Speaker: Mr Paul Zammit
Venue:   Online Webinar

Participation Fees 
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.

BACKGROUND INFORMATION

An entity may carry out some of its activities in foreign currencies. The area of accounting for foreign currency is one of the more general areas of financial reporting, in terms of the potential reach it has on all financial statement line items. It is thus particularly essential to understand properly this financial reporting area before starting the process leading to accurate financial statements that show a true and fair view in line with the applicable reporting framework. There are numerous specific considerations to be made when accounting for foreign currency activities. The objective of this session is to provide attendees with a concise, comprehensive overview of IAS 21 ‘The Effects Of Changes In Foreign Exchange Rates’ and GAPSME Section 18, via practical examples.

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

• An introduction to foreign currency activities.

• Determining the functional currency.

• Transactions in foreign currency.

• Foreign operations.

• Other considerations.

• Recent developments.

Why is the session of relevance to our members?

Foreign currency transactions and translation issues are increasingly common—and so are the challenges they present. This session not only offers a clear, structured refresher on the core principles of IAS 21 and GAPSME Section 18, but also highlights common pitfalls, judgement areas, and recent developments that could impact your reporting. Whether you're looking to reinforce your knowledge or sharpen your technical edge, this session equips you with the insights to get it right the first time.

Target Audience

This session is ideal for accounting professionals working in practice or industry, as well as accountancy students preparing for professional exams. Whether you're navigating foreign transactions daily or occasionally dealing with currency translation issues, the content will be relevant, practical, and immediately applicable.

Speaker's Profile

Paul Zammit is a Certified Public Accountant and financial reporting specialist at NM Group, with over 15 years of experience. Since 2017, Paul has focused on financial reporting standards, particularly IFRS and GAPSME, playing a key role in engagements such as accounting advisory services and reviews of IFRS- and GAPSME-compliant financial statements.
In addition to his professional work, Paul has been lecturing on financial reporting since 2018, delivering courses to both students preparing for their ACCA or ACA exams and accounting professionals at CPE-accredited events. He has also contributed to several specialized IFRS projects during this time.
At NM Group, Paul advises clients on complex accounting transactions, oversees financial reporting obligations for multiple companies, and manages the firm's learning and development initiatives, specifically in financial reporting. Since 2022, he has been a member of the Malta Institute of Accountants’ Financial Reporting Committee, where he was involved in the 2024 amendments to GAPSME.

EVeNT CPE COMPETENCies

3  Core

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

DISCLAIMER

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Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.