Course Summary

Duration8 hours

PresenterChristy Kearney

Course Details

Session 1: Financial Reporting Focus for 2020

FRS 105 is what accountants have wished for ever since the FRSSE was removed. It is perfectly suited for micro entities with simple accounting and minimum disclosures. The only criticism of FRS 105 is that it went too far in the omission of disclosures. However, this can be easily addressed with minimum effort. FRS 105 provides accountants with the most efficient accounting framework for micro entities.

Session 2: Regulatory & Practical Issues for Irish Firms

The Small Company regime brings significant benefits for qualifying companies. Reduced Financial Statements and accompanying notes. Audit exemption & consolidation exemption for small groups. Section 1A of FRS 102 is the next best alternative to FRS 105 and has significantly reduced disclosures when compared to the full FRS 102. However, the accounting rules are the same as FRS 102.

Session 3: Company Law for 2020

FRS 102 & FRS 105 were recently reviewed by the rule-makers and a number of changes and improvements will be compulsory for 2019. These changes are mainly welcome and can be adapted for 2018 on a voluntary basis. They concern Investment Properties, Loans from Directors, Intangibles, Financial Instruments & Cash-Flows

  1. The special case for Investment Properties Companies & FRS 105
  2. FRS 102 versus 105

Session 4: Audit & Regulation Update

Certain areas have historically provided difficulties for accountants and may have been ignored or incorrectly treated. When looked at properly, they are not the problems once thought. We explain it in simple terms: The Deferred Tax, Tax Surcharges, Shares & Loans, Investment Properties.

CPD Facilitator

Christy Kearney

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.