FRS 102: Impact on systems and data

Online Course on FRS 102: Impact on systems and data

Have you thought through the consequences of the new reporting framework for your systems and data?

With the introduction of a new financial reporting framework there is a great
opportunity to reassess the flow of data from transaction through to financial
statement.

For accounts to be produced efficiently, data must flow from transaction, to
management accounts to statutory accounts without the need for manual intervention.

This course will help you to explore potential opportunities for an entity to make the best use of its systems to increase the efficiency.

You will understand how to identify opportunities, and how to create efficiency and automation in the production of your financial statements.

FRS 102: Impact on systems and data enables the learner to:

• Define opportunities to increase efficiency
• Understand the requirements of FRS 102
• Recognise the data and information that needs to be captured in order to generate the financial statements

Learning outcomes of FRS 102: Impact on systems and data

Information requirements
• The structure of the fixed asset register
• Residual values and useful lives
• Impairment of assets
• Componentisation
• Borrowing costs
• Inventory
• Consolidated accounts

Automated systems

Manual Systems

Transaction data capture

About the Author of FRS 102: Impact on systems and data

Lincoln Miles is a professional financial reporting trainer who has provided accountancy training for 15 years.
 
Lincoln specialises in UK GAAP, IFRS and US GAAP and runs a training and consulting business that provides services in the UK, Poland, Bulgaria, Greece, Slovakia, Romania Czech Republic and the Channel Islands.
 

Flexible learning

Learners take their own route through the topics covered in the course. They will learn at their own pace through a variety of activities designed to accommodate a range of learning styles.

You might also be interested in

FRS 102: Getting to grips
FRS 102: Choosing between alternatives
FRS 102: How will the numbers change?
FRS 102: Reacting to reduced regulation

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