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13 November 2019

Accounting for limited liability partnerships (including the new LLP SORP)

Category: MASTER COURSE

An LLP is required by law to prepare full statutory accounts in accordance with accounting standards. This course gives an overview of the procedure and of the revised LLP statement of recommended practice (SORP) issued in July 2014, further to the development of FRS 102.

Who should attend?

  • Those considering the switch from partnership to LLP
  • Those new to accounting for LLPs
  • Existing employees looking to refresh or consolidate their knowledge
  • Auditors of LLPs.

What you will gain
Partnerships are not required to prepare their accounts under full UK accounting standards and few do this voluntarily, choosing instead to adopt accounting policies that are straightforward to administer or felt to achieve better equity between partners. On the other hand, an LLP is required by law to prepare full statutory accounts in accordance with accounting standards, and, unless the LLP is small enough to be exempt, these must be subject to an audit.

We also cover the revised LLP statement of recommended practice (SORP) issued in July 2014, further to the development of FRS 102.

Programme outline

  • The law and practice of LLPs
  • General accounting requirements and the new LLP SORP
  • The contents of the annual report and financial statements
  • Members' remuneration and interests
  • Retirement benefits
  • Taxation
  • Revenue recognition
  • Provisions
  • Other relevant accounting standards
  • The transition from partnership to LLP

The course will start at 9.30 am and end at 12.45pm. Refreshments are provided.
3 CPD hours (where applicable). 

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

Booking Information

Date Location Price
13 November 2019 - 09:30 London - morning course Price: GBP 315.00
Member price: £284. Plus VAT on all prices.

Accounting for limited liability partnerships (including the new LLP SORP)

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 cima@bpp.com 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: http://www.bpp.com/professional-education/privacy

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

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