New Uk Gaap Legislative Overview Course 1 User
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.
The changing landscape of UK GAAP is going to have a significant effect on many companies’ financial statements over the next couple of years. The rules are retrospective and have to be applied as far back as the date of transition.
Medium-sized unlisted companies must apply the new UK GAAP for accounting periods commencing on or after 1 January 2015. Smaller companies and micro-entities will transition across to a new UK GAAP for accounting periods commencing on or after 1 January 2016 although earlier adoption of the new rules is permissible.
This legislative overview consolidates all the new UK GAAP and legislation and explains why the new regime has been brought in; who and when it affects, and the types of frameworks that various entities can report under. It also explains how the new EU Accounting Directive has been transposed into company law resulting in changes to the Companies Act 2006 that will have a direct impact on all small companies and micro-entities.
This course accompanies the new IRIS ‘Key Change’ courses which look at the most notable differences in various accounting areas. Because this legislative overview essentially “sets the scene” for new UK GAAP, it is recommended that IRIS users start off with this one and then move onto the detailed ‘Key Change’ courses.
IRIS Accounts Production