Accounting Lecture Explores New Revenue Standard
Leading accounting firm, PKF South Africa, presented a guest lecture on the new Revenue Standard (IFRS15) to Accounting 300 students on UKZN’s Pietermaritzburg campus.
The lecture, facilitated by Accounting Lecturer, Ms Navitha Sewpersadh, aimed to inform students about the new Revenue Standard and its impact on companies, giving them a real-world view of industry practice.
The lecture also provided a platform for PKF, as a prospective employer, to gauge talent UKZN has to offer as students were given an opportunity to showcase their knowledge on the IFRS15 standard in a question and answer session.
Commenting on the lecture, Sewpersadh said: ‘The lecture introduced students to the new Revenue Standard in the International Financial Reporting Standards (IFRS) that was issued by the IASB. Students are expected to know this standard for their studies and for application in the commerce industry.
‘The lecture was well attended and the students enjoyed the opportunity to actively participate in the quiz and to be rewarded with prizes sponsored by PKF.’
PKF’s Technical Manager, Mr Minette van der Merwe, said interacting with the students had been a ‘wonderful experience’.
‘It was such a pleasure lecturing to future chartered accountants of South Africa - these bright young people can achieve anything they want to. We look forward to interacting with the students of UKZN again,’ said van der Merwe.
Accounting student, Ms Deepika Ramruthan, who was one of the students whose financial knowledge earned her a prize, said what she learned during the lecture would be useful when she pursues her postgraduate studies next year.
‘The lecture helped change my understanding of how revenue is to be recognised in the future. The lecturer was well prepared and questions were answered clearly and concisely,’ said Ramruthan. ‘Considering that this standard will be assumed knowledge in honours next year, PKF has assisted us in our learning. Leaving the lecture with a good understanding of the new revenue standard was definitely a good feeling - winning the PKF bag with all the goodies was a bonus,’ she said.