FRS 102 Update & Refresher (ICAS)

Overview

Since 2015 when FRS 102 first became mandatory, the standard has had a number of amendments. The course will give you an essential update of recent changes and a refresher of key areas.

During recent times, regulators and accountancy bodies have issued on-going guidance on the reporting implications of Covid 19, particularly with reference to events after the end of the reporting period, and going concern.

Who is this for?

This course is essential for those who are involved in the preparation and audit of financial statements prepared in accordance with FRS 102.

Please note that this course does not deal with issues which are specific to small companies. These are dealt with in a separate course, One Stop Guide to Small Company Reporting.

What you will learn

Key issues to be covered will include:

• Overview of recent changes and current position
• Events after the end of the reporting period and Covid 19
• Going concern
• Acquisitions, goodwill and intangibles
• Investment properties
• Deferred tax
• Fair value – when is it appropriate and how should it be measured
• Financing transactions including inter-company loans
• Leases
• Related party disclosures
• Provisions and liabilities
• Revenue from contracts with customers
• Accounting policies, judgements and estimates
• Financial instrument disclosures
• FRC Annual Review of Corporate Reporting 2018/2019
• Dividends – accounting and disclosure
• Cash flow statements (including additional disclosures in December 2017 amendments)

How will this help your career?

You’ll acquire the knowledge of:

• How recent changes to FRS 102 might affect your company or your clients
• Reporting experiences of the application of FRS 102
• How to avoid common pitfalls
• Guidance on a number of practical problem areas including feedback from professional bodies and regulators