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 does FRS 102 review residual values?
    • How does FRS 102 review impaired assets?
    • What does FRS 102 say about componentisation?
    • What choices does FRS 102 give an entity borrowing costs?
    • Inventory
    • Consolidated accounts
  • Financial instruments
    • What policy choice needs to be made on financial instruments?
    • What does amortised cost consist of?
    • What does FRS 102 say about fair values?
    • Hedging
    • Impairment
    • Disclosure
  • Efficiency through coordination of systems and simplification of measurements
    • Where do share based payments source their data?
    • Measurement
    • How does FRS 102 measure pension liability?
    • Net finance cost
    • How does FRS 102 approach accounting with the use of fair values?
  • Format of accounts, leases and revenue recognition
    • Format of financial statements
    • Leases
    • Revenue recognition
    • What are award credits?
    • Policy on rendering of services and construction contracts
    • Cumulative position

Author

Lincoln Miles

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

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