About this Course

To enable participants to Effectively prepare Financial Statements using the Presentation and Disclosure requirements under selected sections of FRSs under FRS 1, FRS 8, FRS 107, FRS 7, FRS 36, FRS 40, FRS 108 and FRS 11.

Programme Outline 

FRS 1: Presentation of Financial Statements

• Key Changes to FRS 1
  
• Balance Sheet / Statement of Financial Position
  
• Statement of Comprehensive Income
  
• Statement of Changes in Equity
  
• Notes to Financial Statements
  
• Key Accounting Judgements
  
• Key Accounting Estimates
  
• Capital Disclosures
  
• Capital Risk Management Policies and Objectives
  
• Financial risks and capital management disclosures
  

FRS 8: Accounting Policies, changes in Accounting Estimates an Errors

• Adoption of new and revised FRSs
  
• New Standard or Interpretation that has been issued but is not yet effective
  

FRS 107: Financial Instruments: Disclosures

• Scope of disclosures
  
• Defaults and Breaches
  
• Collaterals
  
• Credit Risk
  
• Past Due
  
• Liquidity Risk
  
• Market Risk
  
• Interest Rate Risk
  
• Foreign Currency Risk
  
• Fair values of financial assets and financial liabilities
  
• Amendments to FRS 107
  

FRS 7: Statement of Cash Flows

• Effects of cash balances in foreign currencies to be presented separately
  
• Presentation of Statement of Cash Flows
  

FRS 36: Impairment of Assets

• Disclosures
  
• Level at which goodwill is tested for impairment
  

FRS 40: Investment Property

• Transitional provision for amendment to FRS 40 - investment properties under construction
  
• Transfer from PPE to investment properties
  

FRS 108: Segment Reporting

• The main purpose of replacing FRS 14 with FRS 108
  
• Scope and Key changes to FRS 108
  
• The CODM (Chief Operating Decision Maker)
  

FRS 11: Construction Contracts

• Disclosure requirements of FRS 11
  
• Gross amount due from customers for contract work
  
• Gross amount due to customers for contract work
  
• Advances received
  
• Amount of retentions
  
• Accounting policy note
  

Intended For

An Intermediate Level programme Intended for all Practising and Non-Practising Accountants.

Training Methodology

Lecture style, with Examples

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