2021-22 Update: UK and Ireland GAAP

by Steve Collings

UK and Ireland only. Explore key developments in UK and Ireland GAAP for 2021-22. Focusing on the accounting repercussions of Covid-19, covering accounting for leases, going concern, borrowing costs, events after the end of the reporting period, and more.

This course is not currently available

This course will enable you to

  • Keep on top of recent updates and developments in UK and Ireland GAAP
  • Account accurately for leases in line with FRS 102, Section 20
  • Assess going concern with regards to FRS 102 and FRS 105
  • Apply the correct treatments for events after the end of the reporting period
  • Recognise the UK and Irish GAAP requirements and policies for borrowing costs

About the course

Many aspects of business have been impacted by the coronavirus pandemic, not least financial reporting. Businesses everywhere now face the complicated job of having to prepare reports taking into account the impact of the pandemic as well as the associated support schemes.

This course provides information on the key areas and developments in UK and Ireland GAAP for 2021-22. It covers the approach to leases and going concern as set out in FRS 102 and FRS 105 and the treatment of events after the end of the reporting period. It also looks at UK and Irish GAAP requirements concerning borrowing costs.

Look inside

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Contents

  • Leases
    • Scope of FRS 102, Section 20
    • Types of leases
    • Classification of leases
    • IFRS 16 vs UK and Irish GAAP
    • IFRS 16 Leases
    • Accounting for an operating lease: Lessors
    • Recent amendments
  • Going concern
    • A going concern?
    • Overview
    • Indicators of concern
    • Key indicators
    • Short-term closure
    • Small entities
    • Auditor reporting
  • Events after the end of the reporting period
    • Identifying events
    • Scope and definitions
    • Examples
    • Adjusting events
    • Non-adjusting events
    • Going concern
    • Dividends
    • Disclosure requirements
  • Borrowing costs
    • Overview
    • What are borrowing costs?
    • FRS 102 vs FRS 105
    • Accounting policies
    • Accounting for borrowing costs
    • Disclosure requirements

Author

Steve Collings

Steve Collings is the audit and technical director at Leavitt Walmsley Associates Ltd, Cheshire. He specialises in UK GAAP, IFRS, Solicitors Accounts Rules and auditing and is also a nationwide lecturer on these subjects.

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