The major changes proposed to leasing transactions and revenue accounting under FRS 102 and FRS 105

Overview

FRED 82 proposes some significant changes to the way in which leasing transactions and revenue will be accounted for in the financial statements. If the proposals go ahead as planned, careful planning will need to be carried out to ensure the impact on the reporting entity's financial statements is clearly understood. This one-hour webinar will examine the following issues:

• Why the Financial Reporting Council wants to overhaul lease accounting
• How the accounting treatment for lease accounting may look under the proposals
• How revenue recognition accounting policies may need to be changed following the FRC's periodic review
• How revenue will be recognised under the proposals.

Worked examples will be used during the course of the webinar so delegates can fully understand how the changes may look. Delegates will be able to download these worked examples.

Steve Collings FCCA, Audit & Technical partner at Leavitt Walmsley Associates Ltd

Steve is the audit and technical partner at Leavitt Walmsley Associates Ltd where he trained and qualified. Steve specialises in auditing and financial reporting (UK GAAP and IFRS) and Solicitors Accounts Rules as well as having in interest in taxation issues for small and medium-sized businesses.

Steve became a member of the Association of Accounting Technicians in 2001 and qualified as a Chartered Certified Accountant in 2005. In 2010, Steve became a Fellow of the Association of Chartered Certified Accountants (ACCA).