Stock Shock, Fix the Inventory Mess Before It Costs You, Effective Inventory Management: Accounting, Stock Levels, and IFRS for SMEs

Poor inventory control can wreck margins, trigger compliance nightmares, and leave accountants scrambling when SARS or auditors ask tough questions. This session equips you with the tools to get stock accounting right—no fluff, just practical guidance rooted in IFRS for SMEs and real-world stockroom chaos.

3 CPD units 2 June 2025 1 presenter

What will set you apart

By completing this course you will gain the following competencies

How to apply IFRS for SMEs inventory rules without getting buried in the fine print
The exact controls you need to stop stock losses from eating your profits
Why most small businesses fail stock counts—and how to fix it
How to turn stock variances into insight (and not just write-offs)
Ways to advise clients or your business on smarter inventory systems that actually work

Event breakdown

1. What the Standard Says: Inventory under IFRS for SMEs
· When inventory becomes an asset—and when it doesn’t
· Costing methods: FIFO, weighted average, and what’s allowed
· Net realisable value and impairment: when to write it down
2. The Reality of Stock Management in Small Businesses
· Why most controls fail in the real world
· What a practical inventory policy looks like (you’ll get a sample)
· How to link physical stock procedures to accounting entries
3. Stock Counts and Stock Variances—A Practical Guide
· Preparing for a successful stock take (and why timing matters)
· Reconciling physical stock to accounting records
· Dealing with shrinkage, damages, and missing inventory
4. Turning Chaos into Order: Systems, Controls, and Advisory Opportunities
· Building internal controls around stock without overcomplicating things
· Spotting red flags in client stock processes (and turning that into billable advice)
· Stock management as a value-add service offering for accountants in practice

Category: AccountingType: CPD CourseCPD category: Accounting

Description

Whether you're in practice or in commerce, stock management is where accounting theory hits the warehouse floor. If you’re tired of stock variances that don’t balance, mystery write-offs, or inventory reports that make no sense, this is for you. We’ll take a deep dive into inventory accounting under IFRS for SMEs—explaining what matters, what’s misunderstood, and what will get you into trouble. From first principles to real-world practices, you’ll walk away ready to clean up messy stock ledgers, advise your clients (or internal teams), and tighten your month-end process. This session is built for working professionals—expect clear explanations, practical examples, and usable templates. You’ll also gain confidence in managing physical stock counts, identifying shrinkage trends, and addressing internal control weaknesses before they turn into big financial holes.

Presenters

Leana van der Merwe — Leana van der Merwe is a Chartered Accountant and Registered Auditor with over 18 years of experience in business accounting, audit and corporate governance. A former Audit Director and professional-body Technical and Standards Executive, she has guided more than 14,000 professionals through complex regulatory matters. Leana also serves on the PAFA Technical Advisory Group, the IFAC Anti-Money Laundering Committee and the IFRS Foundation SME Implementation Group.

You will earn a certificate

On successful completion you will receive a certificate for 3 CPD units in Accounting.

Requirements

Laptop, desktop, or mobile device with internet access
Microsoft Edge, Google Chrome, Safari, or Firefox browser