New UK GAAP for Small & Micro Entities

Pricing

Cost for BPP PD Members: £239 + VAT 3 CPD Hours
(£299.00 + VAT for non BPP PD Members Click Here for details of our membership scheme).

Course level

Introductory

Overview

Small companies now have to get to grips with a new financial reporting regime - FRS 102 Section 1A for Small Companies (mandatory for periods commencing on or after 1 January 2016), and FRS 105 for Micro-entities. These replace the Financial Reporting Standard for Smaller Entities (the FRSSE).

This course will take you through the steps to producing accounts compliant with Section 1A of FRS 102 and the revised small companies regime in the Companies Act 2006. The course will be illustrated by example financial statements and suggested wordings of notes and balance sheet statements. The course will also cover filing requirements and options, and pitfalls to be avoided.

Delegates

This course is essential for those who are involved in the preparation and audit of small company financial statements.

Course content

This course deals with issues relating to small companies and small groups. In particular, it looks at the transition from the Financial Reporting Standard for Smaller Entities to the revised version of FRS 102 Section 1A applicable to small companies for accounting periods commencing on or after 1 January 2016.

It also considers the micro-entity option and the new standard FRS 105, issued July 2015.

The focus of the course is on practical issues affecting small companies.

  • What is different? – review of key areas of change and impact on financial statements of small companies
  • FRS 102, Section 1A, presentation and disclosure requirements
  • Additional recommended disclosures
  • Practical examples of illustrative financial statements and disclosure notes for full shareholder accounts, abridged accounts and filed accounts
  • Key recognition and measurement areas, including
    • Investments
    • Investment properties
    • Loans between connected persons
    • Deferred tax
  • Transition from FRSSE to FRS 102
  • FRC Staff Education Notes
  • The micro-entities option – FRS 105

    Learning outcomes include:

    • practical tips on options available and how to take maximum advantage of exemptions
    • guidance on the transition from the FRSSE to FRS 102 as amended for small companies
    • help with a number of practical problem areas.

    "A CPD certificate of completion will be provided by BPP Professional Education Limited upon request, following attendance."


    Course Dates

    Location Dates Time Availability  
    London 06 Dec 2017 2:00 PM - 5:15 PM  Spaces Book Now
    London 14 Feb 2018 2:00 PM - 5:15 PM  Spaces Book Now
    London 16 Aug 2018 2:00 PM - 5:15 PM  Spaces Book Now

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