FRS 102: Reacting to reduced regulation


This course will help you to create a robust application of FRS 102 within your organisation and will allow you to focus on what policies you need to set up in order to for your organisation to successfully adopt FRS 102.

This course is provided by a third party provider and the fee charged is exclusive of VAT.   

Venue details:  
Online EU, ,
Start date & time:  
01 January 2021 00:00
End date & time:  
01 January 2022 00:00
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
3.50 Training Tickets accepted
CPD hours:  
Speaker details
First nameLast name
AccountingCPD. net


Product type:  
CPD online course
Category:, Financial reporting

Booking with a Training Ticket

Once you have booked your course, you will receive an email with your booking confirmation. The steps you will need to follow to access your online course will arrive in a separate email within 48 hours of your order being processed

Please be aware that participants will have access to this course for120 days from the date of receiving access via email notification

Course overview 

Compared to existing UK GAAP, FRS 102 removes 90% of content. In some ways this is good, but it involves you exercising more professional judgement because there is less guidance to follow and more situations where you have to look beyond FRS 102 to identify appropriate treatments.

This course enables you to:

Identify the consequences for your organisation of adopting a framework with 90% less content.  Discuss with your clients or organisation the practical aspects of applying the rules of FRS 102.  Consider some of the more generic and contextual issues of working with FRS 102.

Practical considerations of applying reduced regulation

  • How does FRS 102 account for the revaluation of assets?
  • What guidance does FRS 102 give on fair value?
  • Impairment of assets
  • How should I approach the reduced regulation?

Simplified treatments and their implications

  • Where does FRS 102 place its importance with hedge accounting?
  • What method of impairment does FRS 102 use?
  • How does FRS 102 approach pensions?
  • How does FRS 102 approach share based payments?
  • What guidance does FRS 102 give on simplified treatments?
  • How does FRS 102 treat specialised activities?
  • How does FRS 102 treat development assets?

Frameworks for revenue recognition and construction contracts

  • How much guidance does FRS 12 give on revenue recognition?
  • How does FRS 102 decide to recognise revenue?
  • How does FRS 102 treat the bundling of contracts?
  • Revenue recognition policy documents

General and contextual considerations of less regulation

  • How does FRS 102 require a different mind set?
  • What creates a good working relationship with auditors and stakeholders?
  • What impact does a three year update have?
  • What lies beyond FRS 102?
  • Why do some companies follow FRS 101?
  • Cost benefit analysis