25 November 2021

FRS 102 - practical challenges and emerging issues


Most businesses have now been through the transition process for FRS 102, though many are still facing plenty of practical challenges as they seek to apply the standard in practice. This course will help offer practical solutions to them.

Who should attend?
This course will benefit anyone involved in the preparation, audit or analysis of financial statements prepared under FRS 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland.

What you will gain

In December 2017 amendments were published to FRS 102 as a result of the First Triennial Review of FRS 102. These amendments are mandatory for accounting periods commencing on or after 1 January 2019, but early adoption is permitted. This course will consider the practical implications of these amendments, together with ongoing issues arising in the application of FRS 102, including the implications of Section 1A.

As a result of FRS 102 the guidance on distributable profits issued by the ICAEW and ICAS was revised by TR 02/17BL. The implications of these changes will also be considered.

Programme outline

On completion of this course you will be able to:

  • Understand the implications of the changes made to FRS 102 in December 2017;
  • Apply the changes announced;
  • Decide on when to apply the changes
  • Better apply FRS 102 through a deeper understanding of difficult and debatable areas
  • Understand the implications of FRS 102 for the calculation of distributable profits

Detailed course content

Course coverage will include:

  1. Changes from the First Triennial Review in respect of:
  • Investment properties
  • Basic and other financial instruments
  • Loans to companies from owners
  • Business combinations
  • Revenue
  • The cash flow statement
  • Gift aid payments
  • Financial institutions

2. Rejected amendments

3. The timetable for future changes and the implications of IFRS changes

4. Further practical challenges

  • Accounting for non-financial investments (artworks, fine wine, etc)
  • The fallback position when FRS 102 is silent
  • Recap of the off-market lending issue
  • The distributable profits guidance of TR 02/17BL, including the impact of off-market lending
  • Deferred taxation
  • Retirement benefits (including group schemes)
  • Share based payments in private companies
  • Issues from FRS 102 Section 1A
    • The content of financial statements
    • The true and fair problem
    • Disclosure of directors’ emoluments

The course starts at 9.30am. Lunch and refreshments are included.
6 CPD hours (where applicable). 

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
25 November 2021 - 09:30 London Price: GBP 634.00
Member price: £571. Plus VAT on all prices.

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08/11/2021 09:30:00

FRS 102 - a comprehensive refresher programme


  • Cost:
    GBP 1,299.00
    Member price: £1,169. Plus VAT on all prices. Accommodation not included.
  • Location:
    Online Live - 2.5 day course
  • Speaker(s):

This two and a half day course provides an essential overview of the new UK financial reporting framework. The course covers the main requirements of various sections of FRS 102 and provides practical examples and illustrations throughout to demonstrate key treatments and disclosures required by the new standard.

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FRS 102 - practical challenges and emerging issues

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at:

The information provided to BPP will not be used by BPP for marketing purposes.

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