CPD Course Overview

Book This CPD Course Now

Venues & Dates:

Why You Should Attend This CPD Course?

If a company has a year end on or after 31 July 2013, it will have to consider accounting policies under IFRS from 1 July 2012. The company will have to provide comparative information for year end July 2012 in accordance with IFRS. Therefore, firms should be aware of the implementation of IFRS for SMEs from 1 July 2012. Accountants will have to be knowledgeable on the IFRS SME standard and application to their clients’ accounts, in the case of practising accountants. Accountants in business will also have to be up to speed on the application of the standard to the company accounts.

What Will Be Covered?

• Imminent Exposure Draft (November 2010) which will outline in more detail when and how the IFRS for SMEs will be implemented.
• Likely date of transition (i.e. date when opening balance sheet will have to be restated) is 1st January 2012 (just 14 months away!!) and, thus, it is becoming urgent that accountants are up to speed on the transition from local GAAP to the IFRS.
  The primary statements
• Statement of Financial Position
• Statement of comprehensive income and income statement
• Statement of changes in equity and statement of income and retained earnings
• Statement of cash flows
• Accounting for Non-current assets – the main changes
• Accounting for Current assets – the main changes
• Accounting for liabilities – the main changes
• Revenue recognition and accounting for employee costs
• Basics of consolidation and foreign currency translation

Who Should Attend?

• Accountants in business who are preparing the financial statements
• Accountants in Practice, who are preparing financial statements for their clients.

What You Will Walk Away With?

Delegates will receive a review of the main changes that will be imposed by the adoption of IFRS for SMEs and they will gain a broad understanding of their application.

Book This CPD Course Now

CPD Course Facilitator

Robert Kirk - University of Ulster

Robert Kirk qualified as a Chartered accountant in Belfast. He is Professor of Financial Reporting in the School of Accounting at the University of Ulster. Robert has published several books on accounting standards and travels extensively around the world to speak to accountants on financial reporting standards.