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

Government grants are a common feature in the Maltese business environment, particularly for small and medium-sized entities operating in manufacturing, services, tourism and other supported sectors. While such assistance often provides essential financial support, the accounting treatment is not always straightforward and requires careful judgment.
Under IFRS Accounting Standards, government grants are primarily addressed by IAS 20 ‘Accounting for Government Grants and Disclosure of Government Assistance’, while GAPSME includes its own requirements that are largely aligned in principle with IFRS, except for some specific cases.
This session aims to provide participants with a structured and practical understanding of how government grants should be accounted for under both frameworks, focusing not only on the technical requirements but also on the professional judgements that arise in practice.

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

• Definition and scope of government grants and government assistance

• Accounting for grants related to income

• Accounting for grants related to assets

• Presentation in the statement of financial position and statement of profit or loss

• Disclosure requirements under both frameworks

• Key differences between IFRS and GAPSME

• Common practical issues and pitfalls encountered in practice

Why is the session of relevance to our members? 

Government grants can have a material impact on an entity’s financial performance and financial position. Incorrect recognition or presentation may lead to misleading results, regulatory scrutiny, or audit challenges.
This session will help members strengthen their technical understanding of the applicable standards while developing the confidence to apply judgement in real-life scenarios. Participants will benefit from practical insights into how government grants are assessed, recognised, and explained in financial statements prepared under IFRS and GAPSME, supporting higher-quality financial reporting and more robust professional decision-making.

Target Audience

Practicing accountants, auditors, finance professionals, and other practitioners involved in the preparation, review, or interpretation of financial statements under IFRS or GAPSME. Accounting students may also find this session beneficial.

Speaker's Profile

Paul Zammit is a Certified Public Accountant specialising in International Financial Reporting Standards and GAPSME legislation. Since 2017, Paul has focused on technical accounting research and engagements, including advisory projects and the review of financial statements for compliance with Maltese regulations. He is a member of the Malta Institute of Accountants’ Financial Reporting Committee and has contributed to key initiatives, including the 2024 amendments to GAPSME. Paul has been lecturing in financial reporting since 2018, delivering training to ACCA and ACA students, as well as CPE-accredited sessions for professionals across various firms and institutions. Today, as a sole practitioner, Paul focuses mainly on technical accounting services — advisory, compliance, lecturing, and coaching — combining strong subject-matter expertise with a practical, people-focused approach

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.