Overview

On 27 March 2024, the Financial Reporting Council issued the final amendments to UK and Ireland accounting standards. These amendments bring in some significant changes to the way in which certain transactions are treated and disclosed in the financial statements. All entities in the UK and Republic of Ireland will be affected in some way or another by the changes.

This one-day accounting standards update will examine some of the technical challenges faced by practitioners on a daily basis.

Key features

  • How lease accounting will be affected and how to deal with the transition to the new rules
  • New revenue recognition accounting treatments
  • How smaller entities will be affected in terms of additional disclosures that will be mandated
  • Common errors made in the financial statements, such as deferred tax and financial instruments
  • Changes to company size thresholds

The course will also look at some key areas of the financial statements which cause problems for firms, such as property revaluations and provisions.

The course will include detailed worked examples to aid practical application with comprehensive course notes for future reference.

This event was recorded 17/09/2024

Speaker

Steve Collings

Russell Cockburn

Steve Collings FCCA is a director at Leavitt Walmsley Associates Ltd, a firm of Chartered Certified Accountants based in Sale, Cheshire where he trained and qualified.

Steve specialises in financial reporting (UK GAAP and IFRS), auditing and solicitors’ accounts rules and has lectured extensively to professional accountants in the UK and overseas (most recently in the Caribbean on IFRS and auditing).

Steve is the author of several books on accounting and audit-related issues and has been the author of many articles and whitepapers on financial reporting and auditing topics. He writes extensively for ACCA working closely with our technical advisory department to produce some of our authoritative technical factsheets on financial reporting and audit-related issues for our members. Steve has been awarded Accounting Technician of the Year at the British Accountancy Awards as well as receiving Outstanding Contribution to the Accountancy Profession award.

Steve is on the UK GAAP Advisory Panel at the Financial Reporting Council which has input into the development of UK and Irish accounting standards.