Online Course on FRS 102:
Reacting to reduced regulation
Will your interpretation of the new regulations stand up to scrutiny?
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 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.
FRS 102: Reacting to reduced regulation enables the learner 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
Learning outcomes of FRS 102: Reacting to reduced regulation
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
About the Author of FRS 102: Reacting to reduced regulation
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.
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.
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