COURSE OBJECTIVES: This course is an introduction to accounting for fixed assets under UK GAAP and provides a practical guide to how to approach accounting for fixed assets. It will involve case studies to illustrate all aspects of fixed asset accounting and will cover recent accounting issues. It will be a comprehensive guide for those in industry and commerce and will also be useful to those in public bodies. The impact of, and comparison with, IFRS will be discussed.
COURSE CONTENT
The Basis of Accounting for Fixed Assets
- Accruals accounting
- Capital v revenue expenditure
- The concept of depreciation
Recording of Tangible Fixed Assets
- Purchases, disposals, depreciation, revaluation, impairment
Treatment of Other Fixed Assets
- Leased assets, property and investment properties, intangibles
Overview of UK Accounting Standards and their Impact on Accounting for Fixed Assets
- FRS 10 - Goodwill and intangible assets
- FRS 11 - Impairment of fixed assets and goodwill
- FRS 15 - Tangible fixed assets
Review of the Relevant Standards Under IFRS and the Key Differences in UK GAAP
- IAS 16 - Property, plant and equipment
- IAS 36 - Impairment of assets
- IAS 38 - Intangible assets
Case studies will be used throughout to illustrate accounting entries. WHO SHOULD ATTEND
This is designed for staff in industry and commerce and will also be useful to those in public bodies who are involved in accounting for fixed assets.
"The speaker's approach was very good and she explained topics in detail. Excellent course."
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