IFRS for SMEs and the future of UK financial reporting - an introduction
Event type: Mastercourse
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Date
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Location
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Price
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21 June 2012 - 09:00
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Manchester (morning only course)
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Price: GBP 299.00
Members: £269.00
Corporate discount scheme: £239.00
+ VAT on all prices
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12 September 2012 - 14:00
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Milton Keynes (afternoon only course)
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Price: GBP 299.00
Members: £269.00
Corporate discount scheme: £239.00
+ VAT on all prices
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13 December 2012 - 14:00
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London (afternoon only course)
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Price: GBP 299.00
Members: £269.00
Corporate discount scheme: £239.00
+ VAT on all prices
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Who will benefit
Those who may be required to prepare accounts under international financial reporting standards for small and medium-sized entities (IFRS for SMEs).
What you can gain
Clarify the issues involved in IFRS for SMEs including:
- which entities can use IFRS for SMEs and the financial reporting standard applicable in the UK and Republic of Ireland
- what adopting the financial reporting standard applicable in the UK and Republic of Ireland means for a UK company
- which topics are excluded
- which topics have been simplified
- what disclosures are required.
Speaker Details
The speaker will be drawn from a pool of subject specialists who are qualified professionals. Having worked for leading organisations they will bring their subject to life by relating the course content to real life case studies.
Outline
The programme provides an introduction to IFRS for SMEs, the first set of accounting requirements developed specifically for small and medium-sized entities. The IFRS for SMEs reduces the volume of accounting requirements applicable to SMEs by more than 90% when compared to full IFRSs. This has been achieved by removing some accounting treatments permitted under full IFRSs, eliminating topics and disclosure requirements for recognition and measurement.
On 30 January 2012, the UK Accounting Standard Board issued three new financial reporting exposure drafts, proposing that all current UK FRSs and SSAPs are replaced by the UK's adaptation of the IFRS for SMEs: the financial reporting standard applicable in the UK and Republic of Ireland (draft FRS 102).
The course covers the main requirements of the IFRS for SMEs and outlines the areas where draft FRS 102 is expected to differ. It provides practical examples and illustrations throughout to demonstrate the key accounting treatments under it.
The course replaces FRSME - an introduction advertised in CIMA Mastercourses' 2012 brochure.
Morning courses will run from 9.30am to 12.45pm, afternoon courses from 2pm to 5.15pm. Refreshments are provided.
3 CPD hours (where applicable)
Find out more
If you have any queries please email or phone us on +44 (0)845 026 4722.
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