2023-24 Update: UK & Ireland GAAP

by Steve Collings

Discover the FRC's proposed changes to UK and Ireland GAAP with this course. You'll explore common deficiencies found in financial statements, as well as the reporting requirements for foreign currency transactions and events after the end of the reporting period.

price £75+vat
cpd hours 4 CPD hours
access 120 days' access

This course will enable you to

  • Consider the key changes to UK and Ireland GAAP proposed by the FRC in FRED 82, including the impact of the periodic review on small entities.
  • Identify notable deficiencies found in financial statements.
  • Correctly report on foreign currency transactions.
  • Recognise how to deal with both adjusting and non-adjusting events after the reporting period.

About the course

There are a lot of changes coming up over the next year for UK and Ireland GAAP reporters, following on from a periodic review of the standards. Itís important to grasp what these new rules will mean to prevent misinterpretation of your financial reports. This requires keeping up with the latest GAAP updates and making sure you have a clear understanding of the transactions being handled.

This course will help you to shape your response of the FRC's proposed amendments to UK and Ireland GAAP proposed in FRED 82. Youíll explore common deficiencies found in financial statements and how to handle foreign currency transactions and events after the end of the reporting period. Refine your knowledge of these transactions and understand the relevant reporting requirements.

Look inside

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Contents

  • General update
    • Periodic review update
    • Changes to lease accounting
    • Notable potential changes
    • Impact on small entities
    • Other changes
    • Planning ahead
  • Financial statements
    • Quality control
    • Frequent problems in the notes
    • Disclosures
    • Revalued property, plant and equipment
    • Audit versus non-audit
    • Incorrect editions of accounting standards
    • Deficiencies in the cash flow statement
  • Foreign currency
    • Functional currency
    • How to determine functional currency
    • Monetary and non-monetary items
    • FRS 102 versus FRS 105
    • A net investment in a foreign operation
  • Events after the end of the reporting period
    • Events after the end of a reporting period
    • When to consider events after the reporting period
    • Adjusting versus non-adjusting events
    • Going concern

How it works

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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Access to this course
Total CPD unitshourshours4 unitshourshours21 units20 hours21 hours800+ unitshourshours800+ unitshourshours
Access period120 days120 days12 months12+ months
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Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your teamís needs
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Why not upgrade?

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Licence

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Why not upgrade?

Find the best way to complete your CPD

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Licence

Recommended

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

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