FRS 102- Accounting for Debtors, Creditors and Other Finanical Instruments Recorded

Summary

This course will focus on the main changes to the accounting for debtors, creditors and other financial instruments

Venue details:  
Online, ,
Start date & time:  
01 January 2017 00:00
End date & time:  
01 January 2020 00:00
Price: €62.50  (€62.50 Member price)
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
2.50
CPD hours:  
2.50
Speaker details
First nameLast name
Oliver Holt

Description

Product type:  
CPD online course
Category:  
Financial reporting

This course was originally recorded in 2015

Who should attend 

Preparers, approvers and users of Irish GAAP financial statements for SMEs and auditors mindful that the mandatory application date for FRS 102 is for periods beginning on or after 1 January 2015 with earlier application permitted.

Course overview

  • What exactly is a financial instrument?
  • Typical financial instruments used by SMEs
  • What does FRS 102 require in terms of debtors, creditors and other financial instruments?
  • The recognition and measurements rules for financial instruments in FRS 102
  • Accounting policy choice - Choosing between the options given in FRS 102 – sections 11 and 12;
  • IAS 39 and IFRS 9
  • How to distinguish between a basic and other financial instrument
  • Measurement rules – on initial recognition and subsequently
  • Amortised cost and the effective interest rate method
  • Fair value Special cases including equity investments Derecognising financial instruments
  • Impact on terms loans versus loans repayable on demand
  • Impact of common terms and conditions in loans and other financial instruments
  • How are intercompany loans treated on first transition to FRS 102 and thereafter
  • High level explainer - hedge accounting fundamentals Financial instruments - Disclosures
  • How they will be covered e.g. lecture style, workshop?Participants should note that this course will be mainly delivered as a presentation but will include case studies and accordingly they should bring a calculator.

Key learning outcomes

This course highlights some of the common issues arising when accounting for debtors, creditors and other financial instruments under FRS 102 in the typical SME and will be able to respond to those matters in a proportionate and practical manner consistent with achieving compliance with the standard.