IFRS: Interim Reporting
This course will enable you to:
- Identify the areas of risk in your supply chain from suppliers unable to honour commitments to customers unable to pay
- Evaluate subjective issues such as the collectability of revenue and accounting for provisions
- Identify exposures to asset and goodwill impairments, from present and past acquisitions
- Decide what disclosures are necessary and how to make them without spooking the market
- Use the interim report to share information with investors and other stakeholders at the appropriate time
- Understand the proposals of the recent exposure draft on General Presentation and Disclosures and have your say with the standard setters
The coronavirus pandemic has transformed the financial performance of many companies and the financial reporting implications of this are deep and far reaching. This year's IFRS updates course focuses on three areas that are particularly affected by the crisis: the increased risk the pandemic has created for long term projects; the critical issue of interim reporting, what to include and when; and the balance sheet exposure caused by the valuation of assets and goodwill in current and past acquisitions.
The final module looks an area where change is on the horizon. The recent exposure draft on General Presentation and Disclosures proposes some pretty fundamental changes to IAS 1, a founding statement in the IFRS framework, and the way in which financial statements are presented – and it is still open for comment, so you can have your say.
Accounting for major projects
- The importance of major projects
- Potential issues with major projects
- Accounting for revenue
- Accounting for provisions
- The HS2 Railway contract
- Collectability of revenues
- Practical considerations
- Showing responsibility
- Projecting into the future
Interim reporting
- The importance of interim reporting
- Interim reporting in turbulent times
- IAS 34 Interim Financial Reporting
- Contents of an interim financial report
- Disclosures
- Comparative information and materiality
- GlaxoSmithKline and Q1 reports
- Recognition and measurement
Business combinations
- Company valuations in turbulent times
- The value of business combinations
- Disclosures
- The goodwill impairment test
- Managing the message
- Amortisation of goodwill
- Intangible assets
- GlaxoSmithKline and goodwill
- Assessing the proposals
General presentation and disclosures
- Exposure Draft ED/2019/7
- Improving the structure of statements
- Changing the statement of profit or loss
- Operating and investing categories
- The operating category
- The investing category
- Integral and non-integral associates and joint ventures
- Management performance measures
- GlaxoSmithKline and joint ventures
- Joint ventures and you
- Measuring your performance
Dr Wayne Bartlett specialises in public sector financial management and budgeting and has worked as a consultant and lecturer throughout the world. After 7 years in the NHS in the UK, he joined the Home Office as Head of Accountancy Advice. He has worked closely with a number of Supreme Audit Institutions and has become an expert of the implementation of international accounting standards.
ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.
Verifiable CPD
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:
- Was the learning activity relevant to your career?
- Can you explain how you will apply the learning in the workplace?
You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.