2020-21 Update: UK and Ireland GAAP

Summary

These mistakes may be common, but they can result in financial statements that are materially incorrect, which can result in complaints of negligence and run-ins with the tax authority.

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

Venue details:  
Online EU, ,
Start date & time:  
01 January 2020 00:00
End date & time:  
01 January 2022 00:00
Price:  
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
3.50 Training Tickets accepted
CPD hours:  
4.00
Speaker details
First nameLast name
AccountingCPD. net

Description

Product type:  
CPD online course
Category:  
AccountingCPD.net, Audit and assurance

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 for 120 days from the date of receiving access via email notification

Course overview 

This year's UK and Ireland GAAP Update examines some of the more common errors made in financial statements. These mistakes may be common, but they can result in financial statements that are materially incorrect, which can result in complaints of negligence and run-ins with the tax authority.

This course will enable you to spot the potential pitfalls in revenue, where manipulation can result in unethical behaviour, in basic and compound financial instruments, investment property and fair value accounting for gains and losses, and in deferred tax and the timing of its recognition.

In this course you will:

  • Understand the common areas in UK and Ireland GAAP where mistakes are made and avoid them
  • Ensure that the accounts you prepare present a true and fair view of the companies’ financial position
  • Avoid run-ins with the tax authorities by understanding the issues surrounding deferred tax in financial statements
  • Ensure that your revenue recognition policies are sound and robust so that you cannot be accused of manipulation
  • Sharpen your understanding of both basic and compound financial instruments, and how to recognise them appropriately in financial statements, as detailed in Sections 11 and 12 of FRS 102

Clarify the official definition of investment property and how and when to account for gains and losses