The course was recorded on 3 November 2020, the recording is suitable for both preparers, and auditors, of listed companies and their subsidiaries. It should also aid other accountants who will have to implement the new rules when they are incorporated into local standards FRS 100-105. It is expected that delegates would have a reasonable grasp of financial reporting but the course will assume a fairly basic knowledge of how revenue has been reported to date
Booking Information
Once you have booked your course, the link to the recording will be available in your "My Account" area.
Please be aware that you will have access to this course
for 180 days from the date of purchase
Course Overview
The list of topics will vary according to the latest pronouncements emerging from the Financial Reporting Council (FRC) but will include the following:
Introduction to IFRS 15 Revenue from contracts with customers
Scope of the standard, including exemptions
Recognition and measurement principles with particular emphasis on the new five step model for recognising revenue
Understand how to deal with possible combination of contracts and how modifications to existing contracts should be accounted
How to account for contract costs
Awareness of the presentation and disclosure requirements of the new standard
The transitional arrangements in switching from the previous standards to IFRS 15
In depth coverage of how to account for specialised issues such as customer loyalty agreements, repurchase agreements, rights to return goods, warranty arrangements, principal v agent issues, bill and hold agreements and discount vouchers
The course will incorporate appropriate videos to
illustrate some of the key issues
Questions with Robert Kirk
Key Learning Outcomes
By the end of this course, participants will be able to:
Better understand the impact of the new standard in practice
Be able to apply the standard to their own financial statements and its likely impact on their reported results
Be aware of how companies in practice have applied the
standard on transition
Speaker Bio
Robert Kirk has lectured extensively within Ireland and Great Britain on accounting standards to such diverse organisations as British Gas Plc, The Post Office, British Aerospace Plc, NATO, Royal Bank of Scotland, Bank of Ireland, John Laing Plc, Barclays Bank, Deloitte (Dublin) and Reed International Plc. He has lectured on IFRS standards to major companies in Cyprus, United States, Bahrain, South Africa, Zambia and Ghana. He has published 14 books on the subject both in Ireland and GB
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