Benefits to you and your business
The adoption by the UK of new reporting standards for small and medium entities, based on IFRS is now upon us. Full FRS 102 is the new UK accounting standard that affects most medium sized businesses that used UK GAAP and applies to unlisted companies and subsidiaries of listed companies, as well as to public benefit entities such as charities.
FRS 102 becomes mandatory for accounting periods commencing on or after 1 January 2015, with early adoption permissible and there are a lot of issues that practitioners dealing with clients for whom this standard will be applicable must consider.
These include new accounting requirements for goodwill and intangible fixed assets, group defined benefit schemes, investment properties, employee benefits and deferred tax to name but a few as well as changes in terminology and the format of the accounts.
By attending this seminar, you will be introduced to the legislation surrounding FRS 102 and what possible impact these changes may have on your client’s business. We will walk you through the various stages of FRS102 which are essential for you to keep compliant and avoid hefty penalties.
The training is Continuing Professional Development (CPD) certified and will help with your ongoing professional development.
Who is the course for?
This seminar is essential for anyone who produces financial statements under UK GAAP. It is suitable for all levels and abilities.
What will you learn?
During this 2 ½ hour session we will cover:
- What is FRS 101 and 102?
- Why are these standards being introduced?
- Who will be affected?
- When does the change-over to FRS 101 and FRS 102 take place?
- How will these changes affect the software that accountants use in preparing accounts?
- How IRIS can help?
- IRIS Accounts production
2 ½ hours + Q&As