CPD Course Overview

Book This CPD Course Now

Morning Session:

Financial Accounting Trouble Shooter Workshop

Afternoon Session:

Whistle-Stop Tour of Current Tax for Accountants in Business

Financial Accounting Trouble Shooter Workshop

Why You Should Attend This CPD Course?

Financial Reporting Standards (FRS’s) were, without exception, framed in expansionary times. While the content dealt with accounting issues relevant to both Growth and Recession, the subsequent application of the accounting principles by the Financial Accountant usually dealt only with the challenges that the Celtic Tiger brought.

Accountants should be right on top of the Financial Reporting Standards as the need for strong expert financial advice has never been greater – the challenges facing companies are numerous.

New for 2012

Content is updated throughout 2012 to take new developments and a current issue into account. Content is practical in focus, designed to assist accountants with the preparation of the 2011 accounts, in the prevailing climate.

What Will be Covered?

Areas addressed will include a combination of the following:

FRS 12 Provisions
Future Operation Losses

FRS 12 is clear that it is not permissible to recognise “Future Operating losses” until they are incurred. However, such anticipated losses may indicate an “Impairment of Assets” and the related write-downs can be made at the Balance Sheet date (thereby achieving the desired result).

Restructuring Provisions

Plan the restructuring now and get  it agreed by the Board and the employees before year-end. Make adequate provision in
2009 accounts.

Provisions for Onerous Contracts

Is the company committed to any onerous contracts? Is it renting vacant properties or idle  plant & equipment? If so, provide for the net future losses over the life of the contract in 2009 under “provisions for Onerous Contracts in FRS 12”

FRS 11 Impairment of Fixed Asset
Carrying Values

Take a fresh look  at carrying values in the Balance Sheet. Are the values impaired? Is the recoverable amount of the asset less than the current Carrying Value?

FRS 17 Company Pension Schemes

FRS 17 highlights the risks attached to Defined Benefit Schemes. Such schemes are not feasible going  forward. Companies need to address this problem by freezing any new entrants into existing schemes and/or by closing existing schemes and transferring existing employees to Defined Contribution Schemes. (Prior service entitlements protected).

FRS 20 Share Options

Given the recent stock market performance, existing share options may no longer act as an incentive for retaining & motivating staff.

FRS 25 Financial Assets & Financial Liabilities

Cost of funds was rarely lower. However, nothing is more certain than Interest Rates will rise again as mainland Europe recoversand Banks need to replenish their Balance Sheets through retained profits.

FRS 10 Goodwill

Companies that took advantage of FRS 10 and omitted to amortise goodwill are now facing large Impairment losses. Revisit this accounting policy and commence annual amortisation on the “slimmed down” goodwill.

FRS 1 Cash-flow Statements

Accountants should spend time interpreting the cash flow statement.  Additional notes may be required to enable the user to understand the inflows and outflows.

Cash-flow statements prepared on the traditional “Direct Method” may be far  more useful than the current favoured “Indirect method” which involves convenient netting off of different cash streams.

Who Should Attend?

• Accountants in business who wish are preparing the financial statements
• Accountants in Practice, who are preparing financial statements for their clients.
• Accountants who may have not worked on financial statements from a practical angle, and wish to undertake a refresher in these areas.

What You Will Walk Away With?

The workshop is practical in focus, using a case study approach, where delegates will engage in practical problem solving.

Full Day Event Offer

Attend this seminar with our “Whistle-stop Tour of Current Taxation Issues” to gain 8 hours CPD for an investment of just €200.00. 

Whistle-Stop Tour of Current Tax for Accountants in Business

Why You Should Attend This CPD Course?

This half-day seminar will address a range of taxation issues, where recent changes have occurred, and/or the tax area is of current interest.  The  focus will relate to the taxation heads of particular relevance to the Irish SME, taking a view  from the industry accountant’s perspective.

What Will be Covered?

As this course deals with the most pressing Tax topics at the time of the course the content will be released closer to the course date.

Who Should Attend?

• Accountants in Business who have an interest in the taxation areas covered
  Practising Accountants advising SME clients

What You Will Walk Away With?

Comprehensive notes, worked examples, checklists and support material will be provided.

Full Day Event Offer

Attend this seminar with our “Financial Accounting - Trouble Shooter Workshop 2012” to gain 8 hours CPD for an investment of just €200.00.

Book This CPD Course Now

CPD Course Facilitators

Christy Kearney - FCA

Christy is a Fellow of the Institute of Chartered Accountants. He is currently a self-employed business consultant and was previously a financial controller of a large multi-national company in Cork. He has undertaken extensive speaking engagements in financial reporting and he has lectured and examined at final level.

Brendan Twohig - MK Brazil

Brendan is an experienced speaker and writer on tax issues and regularly contributes to tax debates in both local and national media as well as various trade publications. He began his career as a tax consultant with PWC and occupied a variety of tax consultancy roles before becoming tax Director with MK Brazil.

He specialises in providing support consultancy services to other professional advisors