Accounting and Compliance for OMBs - Problems and Practical Solutions

Preparers of UK GAAP accounts, whether under full FRS 102, FRS 102(1A) for small entities or FRS 105 for micro-entities, need to know how to tackle the most common issues that arise in practice. This course focuses on practical issues using case studies, real-world examples and sample disclosures to illustrate how these should be dealt with.

The course content will reflect emerging issues but is likely to cover topics including:

• Size and audit exemption
• Charity size and audit issues
• Accounting policies – how much is too much
• PPE – initial recognition including component accounting, estimating useful life and residual value
• Investment properties – how to present fair value changes, dealing with transfers and mixed-use property and deferred tax
• Intangibles and goodwill – how to approach recognition and amortisation
• Accounting for R&D tax claims
• Financial instruments, including loans, investments and share-based payments
• Presentation and disclosure issues under FRS 102 and FRS 102(1A)
• Revenue recognition
• Micro-entity (FRS 105) accounting and disclosure, with a comparison to FRS 102(1A)
• Use of true and fair override and extra disclosure needed in certain areas
• Filing issues

We will also be running an online key points version of this course - click here for further details