Financial reporting pack (select five courses from our bestselling financial reporting courses)

This course provides an overview of the requirements of FRS 101, a summary of the disclosure exemptions, identifies the recent updates to FRS 101 and considers the practical implementation issues associated with its adoption.

This course is part of a series dealing with accounting under FRS 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland. It primarily considers the requirements of section 17 property, plant and equipment and section 16 investment property, but also includes elements of section 25 borrowing costs and section 27 impairment of assets.

It considers all aspects of the accounting for property, plant and equipment from initial recognition to subsequent accounting as well as the nature of and accounting for investment properties.

This course is part of a series of online courses dealing with accounting under FRS 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland.

Many UK entities are faced with the challenge of preparing their statutory financial statements under FRS 102, then preparing corresponding US GAAP information for their US parent company. There remain substantial differences between FRS 102 and US GAAP, and these are exacerbated by the decision of the FRC not to include any changes in respect of IFRSs 9,15 & 16 into FRS 102 as part of the First Triennial Review.

This course considers the key differences between FRS 102 and US GAAP to help bridge this information gap.

Although there is a simplified framework for small entities, a micro entity requires further simplification of financial reporting. FRS 105 is designed to replace the FRSSE and provide that simplification. It reduces the content of a set of accounts, simplifies the format of those accounts, and removes complexity and unnecessary choice from the accounting framework. This course provides an overview of the key requirements of FRS 105 by considering qualifying criteria, account formats and key accounting requirements of FRS 105.

The following presentation looks at IAS 1, Presentation. This is a basic standard containing important questions about the main financial statements required for reporting under International Financial Reporting Standards.

Revenue recognition is something that affects us all and in 2018 it is changing. There will be far more explicit consideration of components in a bundled package together with the associated timing and amount of revenue allocated to each component. The new standard may create change for an organisation not just in turns of revenue but also in terms of legal contracts, IT systems and interaction between the sales function and accounting function. This course provides an overview of the new revenue framework of IFRS 15 and considers the practical aspects of its implementation.

This course will benefit those who have some experience of international standards, either from their professional exams or in the workplace, and who are in need of a refresher on group accounting. Following the recent issues of the new group accounting standards IFRS 10 Consolidated financial statements, IFRS 11 Joint arrangements and the update to IFRS 3 Business combinations, there have been some significant changes to how we account for entities within the group. This course will bring you up-to-date with the most recent treatments.

The two key players in a significant amount of financial reporting development are undoubtedly the IASB and the FASB. The course provides a comparison of the two reporting frameworks in terms of general reporting requirements and specific accounting treatments. This course will therefore provide a useful context with which to understand current development and create an awareness of the financial reporting challenges for groups with component reporting under each of the frameworks.