Course Details

This course is a follow on from Part 1 and so two other remaining major revisions that are being implemented by FRS 102 and 105 are covered in this session. This will impact the preparation of financial statements for all non-listed companies in Ireland. Some of the changes are fundamental particularly the new definitions of assets and liabilities and how they will be recognised in the financial statements. 

 

Robert Kirk covers the following topics during this presentation:

  • The introduction of the 5 step approach to revenue recognition
  • When to recognise revenue over time as opposed to at a point in time
  • Specific examples of how the changes impact on sale and returns, consignment sales etc
  • Revised concepts and pervasive principles including new definitions of assets and liabilities and new recognition and derecognition principles
  • The implantation of IFRS 13 Fair Value Measurement into Section 2 of FRS 102

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CPD Course Speaker

Consultant

Robert Kirk

Robert qualified in first place in 1975 as an Irish Chartered Accountant after graduating in Economics from Queens University. He trained in practice with Price Waterhouse and later worked in industry with a subsidiary of Shell (UK). His teaching career started with Business and Accounting Training (now Griffith College) in Dublin where he taught mainly on the professional examination courses for ICAI, CPA, CIMA and ACCA in Belfast and Dublin.

Robert specialises in the teaching of and research into the development of accounting standards in the United Kingdom. He has published 18 books and numerous articles in both academic and professional journals. His latest publication (co authored with Stephen McNamee) is the second edition of ‘A practical guide to UK and Irish Gaap’ (May 2020) (552pp) published by Chartered Accountants Ireland.