This course will:

• Inform you of the recent changes to the Companies Act and regulations, including the new options when filing the accounts with the Registrar of Companies
• Guide you through all the changes, highlighting the key differences between old UK GAAP and new UK GAAP
• Provide details of the recent amendments to FRS 102 arising from the first triennial review of the standard in order to determine whether early adoption is relevant
• Look at the implications of FRS 102 on loan agreements, distributable profits and profit related pay.
• Explain the new approach to accounting for financial instruments, recognising derivatives and deciding whether hedge accounting is appropriate using practical worked examples
• Give practical guidance on the disclosures required in a set of FRS 102 financial statements and the judgements that some entities will need to make
• Illustrate the disclosure requirements for small companies and micro-entities taking advantage of relevant regulations available to them

This course comes with extensive additional resources – meaning you can continue to further your knowledge on this difficult subject after the day. These include...

• Illustrative financial statements
• Practical examples of difficult areas
• A checklist designed to assist you in producing a set of FRS 102 financial statements
• A certificate of attendance

• What are the financial reporting options available to UK entities?
• What do a set of FRS 102 accounts look like?
• What are the disclosures required by small and micro companies?
• What is the ‘qualifying entities’ regime for groups and what disclosure exemptions are available?
• Should I consider FRS 101?
• What are the key recognition and measurement differences between FRS 102 and old UK GAAP?
• Will recent amendments to FRS 102 be helpful to me?
• How do you account for basic and non-basic financial instruments?
• How do derivative instruments impact upon the accounts?
• What are the mechanics of hedge accounting? How does it work?
• What is the impact of the different accounting framework on tax, distributable profits and other business issues?
• What has changed regarding the filing of accounts at Companies House?

• James Lole

  James is a Chartered Accountant and was previously the National Technical Director for a top 10 UK accountancy firm where he also delivered training in all areas of financial reporting and auditing. Now, as a freelance consultant, he is able to provide a high level of technical support when presenting our financial training courses. He is also a technical author and wrote 'Preparing FRS 102 Company Accounts', published by Wolters Kluwer.