FRS 102: Impact on systems and data

by Lincoln Miles

For accounts to be produce efficiently, data must flow without manual intervention. This course will help you to explore potential opportunities, with the introduction of a new financial framework, to increase the efficiency of your systems.

This course is not currently available

This course will enable you to

  • Reassess the flow of information related to transactions in your organisation.
  • Identify opportunities for efficiency in creation of financial statements.
  • Find potential areas of automation in financial statements.

About the course

Have you thought through the consequences of the new reporting framework for your systems and data?

With the introduction of a new financial reporting framework there is a great opportunity to reassess the flow of data from transaction through to financial statement. For accounts to be produced efficiently, data must flow from transaction, to management accounts to statutory accounts without the need for manual intervention.

This course will help you to explore potential opportunities to increase the efficiency of your systems in the production of financial statements.

Look inside

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Contents

  • Information requirements
    • How should I review residual values under FRS 102?
    • How should I review impaired assets?
    • What does FRS 102 say about componentisation?
    • What choices does an entity have on borrowing costs?
    • What do I need to consider regarding inventory?
    • How should I prepare the consolidated accounts?
  • Financial instruments
    • What choices do I need to make on financial instruments?
    • How do I calculate amortised cost?
    • What does FRS 102 say about fair values?
    • What do I need to know about hedging?
    • How is impairment recorded under FRS 102?
    • What are the disclosure requirements?
  • Efficiency
    • Where do share based payments source their data?
    • What do I need to know about valuation?
    • How does FRS 102 measure pension liability?
    • What do I need to know about net finance cost?
    • How does FRS 102 approach accounting with the use of fair values?
  • Format
    • What format will the financial statements take?
    • How are leases accounted for?
    • What is the treatment for revenue recognition?
    • What are award credits?
    • How should services and construction contracts be rendered?
    • What is the effect on the cumulative position?

How it works

Author

Lincoln Miles

Lincoln is a professional financial reporting trainer who has provided accountancy training for 15 years.

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This course is not currently available. To find out more, please get in touch.