Our FRS video training courses are approximately 1 hr in duration. Bulk purchase discounts are also available, please call 0844 815 5550 for more information.
All companies, whether micro, small or large, will have some form of financial instrument reported in the financial statements whether it be in the form of shares, bank balances, loan agreements or more complex instruments such as derivatives.
FRS 102 brings about some considerable change to the way that certain financial instruments are accounted for and disclosed. Loans at below market rates (such as intra-group loans) are caught under the new provisions of FRS 102 and may require a considerably different approach to accounting for such loans if various “workarounds” cannot be found. This Key Change course highlights some of the more notable changes in the accounting standards under FRS 102. Delegates will also learn about:
- Allocating interest to the profit and loss account for a below market-rate loan
- How derivative financial instruments will have an impact, even for smaller companies
- The types of financial instrument which will be classed as basic, and those which will be classed as more complex
- The impact of FRS 102 on loans between companies under common control
This Key Change course is ideal for IRIS customers who act for customers who enter into financial instrument contracts such as loans at below market rate, intra-group loans, and those whose clients might have forward foreign currency contracts in existence at the balance sheet date.