FRS 102 - Financial Instruments


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

This course looks at sections 11 and 12 of FRS 102 and explores the meaning of the term “financial instruments”, the accounting policy choices that FRS 102 permits, and the accounting treatments set out by FRS 102.

Learning outcomes

  • On completion of this course, you will be able to:
  • Identify items in and outside the scope of the standard
  • Determine the choices to be made in respect of the accounting rules to be applied
  • Apply FRS 102 accounting treatments in the main significant areas considered by the standard

Topics covered

  • Identification of financial instruments
  • The accounting policy choices available to entities following FRS 102
  • Accounting methods
    • Fair value
    • Amortised cost
  • Basic financial instruments
    • Identification
    • Initial and subsequent measurement
  • Other financial instruments
    • Initial and subsequent measurement
    • Hedges and hedge accounting


Authored by: Bruce Cowie, Head of Financial Reporting at BPP Professional Devlopment

Bruce Cowie is the Head of Financial Reporting Programmes at BPP Professional Development. He has been training full time in Financial Reporting topics since 1985, and has an expertise in IFRS, UK GAAP and US GAAP. He has trained across the world (e.g. USA, Europe, APAC, Australia, Argentina) for large multinationals, small and medium sized companies, accounting firms, professional bodies and Government entities, and still maintains a genuine love for his subjects. He has spent a considerable time in training firms for the transition to IFRS and to the new UK GAAP.

A CPD certificate of completion will be provided by BPP Professional Education Limited upon successful completion of the online course.

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price: £35.00 (excludes VAT)