Understanding the key implications of IFRS on accounts
This course is aimed at non accountants who are familiar with interpreting accounts under UK GAAP, but need to have an update for the impact of IFRS.
The principles behind the change to IFRS, implication and significant changes will be explained.
A basic understanding of accounting principles and jargon will be assumed, but an accounting background is not necessary.
Programme
Introduction
- background to the implementation of International Financial Reporting Standards
What will the Accounts look like?
- new formats of the Balance Sheet, Income Statement and Cash Flow statement
- new jargon being used
Review of the key areas of impact on the accounts, including:
- increased volatility of earnings
- presentation of financial instruments
- levels of debt and debt covenant ratios
- distributable reserves
- treatment of goodwill,
- capitalisation of development expenditure
- share based payments