Monday, March 30th, 2020
Shasat has launched its #FRS102/105 Master class workshops to provide professionals with the detailed knowledge and understanding of the requirements and pitfalls when applying FRS 102. The training will address the core sections of the standard, providing attendees with greater confidence when dealing with accounting and reporting matters, and will ensure you are up to date by incorporating the latest developments to the standard. During the two days we will also review the simplified framework allowed by FRS 105, and will consider the legal requirement that it imposes on Directors to ensure that the financial statements show a true and fair view by adding additional disclosures where necessary.
FRS 102 replaced the former UK GAAP in 2015 and is loosely based on the IFRS for SMEs, with some adjustments to manage conflicts with the Companies Act. Small entities may follow the guidance in Section 1A of the standard, allowing them to simplify the standard presentation and disclosure requirements, whereas micro-entities may apply FRS 105, a separate framework Whilst FRS 102 framework has become embedded into financial reporting for many entities, some errors and misunderstandings still exist. The Institute of Chartered Accountants in its Audit Monitoring Report identified that more work was needed throughout the profession to keep abreast of developments in UK GAAP guidance, and aware of its interpretation since its issue.
Following are the upcoming workshops: