Course curriculum

  1. 1

    • Do you have any thoughts on the accounting for the wages subsidy scheme under FRS102 1a Should the subsidy be accounted for as grant income separately from the payroll?

    • Do the government grants received (TWSS / EWSS/ Restart Grant etc) need to be disclosed under FRS 102 Section 1A?

    • Does a company have to disclose directors remuneration under FRS102 Section 1A?

    • If a company can apply FRS 105 but apply S1A are there additional disclosures required? Can a company keep transitioning between FRS 102 and FRS 105?

    • Do I need to disclose all items noted in para 24.6 for a company applying FRS 102 S1A?

    • What do I need to disclose in relation to TWSS / EWSS grants if applying FRS 102 S1A?

    • What are the disclosure requirements for government grants under FRS 105 and FRS 102 S1A?

    • What EWSS disclosures are required under section 1A?

    • FRS102-1a Query

    • Is FRS 102 Section 1A appropriate for the accounts of this group?

    • Full FRS 102 for small entities

    • Can a parent/holding company prepare accounts under FRS105 where it meets the criteria having no income or employees but where it's only subsidiary company does not meet the micro company regime and is required to produce their accounts under FRS102 1.A. 
  2. 2

    • According to our accounts package debtors due more than 1 year needs to be disclosed separately but is shown in current assets. Is it correct to show debtors due after 1 year in current assets and just disclosing it separately?

    • How do I present non-current prepayments under FRS 102?

    • How do I account for a prior year error?

    • When do I account for a deferred tax asset?

    • How do I recognise land transferred at nil value?

    • How do I account for property valuation changes?

    • Accounting for land usage in development

    • Accounting for TBESS ( How the Funds received under the Business Energy Support Scheme is to be treated in the Financial Statements )

    • How do I treat a residential property in my accounts?

    • What is the accounting treatment of a disposal of an investment property of an ICAV?

    • Accounting treatment of loans and investments
  3. 3

    • I have a small company who bought shares which have decreased in value. Should I recognise a deferred tax asset for the losses forward?

    • We have a company that paid bonuses in January 2020 in relation to Q4 2019. Under PAYE new rules this is processed in January 2020 when paid. From an accounts perspective are we still ok to accrual in 2019?

    • Company is receiving a grant in 2020 which relates to expenditure incurred in 2019. Is it appropriate to accrue this grant income in 2019?

    • How can I assess an asset for impairment if fair value is difficult to establish?

    • Can a pension payment made after the year end be accrued?

    • What deferred tax rate should be used for a depreciated Industrial building & how is deferred tax calculated?

    • Can you please confirm what the correct accounting entries are for a Shares for Undertaking transaction where the purchasing company is issuing shares to the shareholders of the target company and not to the company itself?

    • What as auditors are we to do if directors are basically too lazy to perform a fair value review or do not want to incur the expense of engaging a professional valuer to perform the valuation?

    • FRS 102 requires investment property to be measured at fair value unless it causes undue cost or effort to measure. It is measured at cost and transferred to property plant and equipment. Is this still the case ?

    • How do I account for costs associated with raising crowdfunding shares- through the P&L or through equity?

    • What disclosures are required for a company that is ceasing trading and will be struck off?

    • Are share options accounted for on the P&l even though they haven't been taxed/recognised with Revenue?

    • How should the restart grant be accounted for and is it taxable?

    • What is the accounting treatment & disclosure requirements for TWSS?

    • When do I recognise a bad debt provision?

    • Are we obliged to do an impairment review on premises valuation because of COVID-19?

    • How should the business continuity vouchers received from the Local Enterprise Office be accounted for in the financial statements?

    • Some extra income & expenses were not included in an Irish subs financial statements in 2017, 2018 & 2019, how do we adjust for this?

    • Do I discount tax liabilities that have been warehoused?

    • How often should my client revalue his freehold property?

    • How are insurance proceeds from loss of earnings recognised under FRS 102?

    • Should a PCP contract be recognised as a finance or operating lease?

    • Should the basis of preparation note be included under the balance sheet or in the notes to the accounts?

    • How should dividend income be accounted for under FRS 102?

    • How often should an external valuation of investment properties be obtained?

    • What to consider in relation to accounting for a prior period error?

    • What is to be disclosed in relation to a non-adjusting event?

    • When are preference share dividends included in the financial statements?

    • How should convertible shares and a loan note be accounted for?

    • What information on related undertakings need to be disclosed & what exemptions from disclosure are there?

    • When is an independent valuation of an investment property required?

    • How should a grant for capital expenditure be accounted for under FRS 102 (accruals model)

    • Should I capitalise lift repair expenditure or expense it?

    • A new Hold Company was formed by way of share for share exchanges. The Hold Co is owned 50:50 by the same 2 individuals. Can we apply merger accounting?

    • If there is a significant post balance sheet event is it ok to only disclose this in the directors report and not the notes

    • Should a purchase agreement to buy assets (TVs) over 24 months be present valued?

    • Would leasehold improvements be viewed as a separate class of assets to property/buildings?

    • When do you record a grant when applying the performance model?

    • Can a sole trader accrue a bonus to be paid in June 2021 for 2020?

    • A company intends to apply for planning permission for the property development. Can the planning costs be capitalised as property, plant & equipment?

    • Is changing the way you account for a grant a change in accounting policy?

    • What are my options for accounting for a Property that is used by the company?

    • How should growth shares be accounted for (no initial value/voting rights but will attain rights/value if certain profit conditions are met)

    • What accounting policy could be used for deferred expenditure?

    • Are investments in UCITS consider basic or complex financial instruments?

    • Transfer of operations from one company to another

    • Accounting treatment of Grant funding in the form or services received

    • Accounting Treatment of Preferred Shares

    • What do we need to disclose related to Share Based Payments?

    • Accounting treatment of transaction costs of negotiating a loan

    • Accounting for rebilled costs

    • How do we account for grant income in the agricultural / CLG sector?

    • What needs to be disclosed in the event of a breach of loan covenents?

    • Accounting treatment of home office shed

    • Recognition of shares held in trust

    • Cancellation of intercompany debts

    • what information we need to disclose in relation to goodwill acquired during the year for a set of accounts prepared under FRS102 S1A?

    • What disclosures are required for a company that is ceasing trading and will be struck off?

    • I have some expenses on internally generated intangible assets that I want to capitalise

    • How do you account for insurance claim proceeds - separately in other income or netted off against the expense it relates to?

    • Revaluation

    • EWSS Turnover - Covid

    • Cancellation of intercompany debts

    • Recognition of shares held in trust

    • Changing from cost to valuation method

    • Will the proposed changes to FRS102 for leases be brought into FRS 105?

    • Which companies qualify as related parties?

    • How to account for revalued property in a charity

    • Accounting for development costs in a group

    • Accounting for deposits

    • Accounting for investment property in a group situation

    • Disclosure required when a company enters examinership

    • Can an entity change to a revaluation model for PPE?

    • Post balance sheet events - fall in value of investment

    • Accounting for a hive up

    • Offset of sales and purchases e.g a sale is issued for 100 EUR and a bill received for 75 EUR

    • Accounting for crypto currency

    • Disclosure of company restructure

    • Accounting for a share buyback
  4. 4

    • does a parent holding 40% subsidiaries need to prepare consolidated accounts. Also, if the shareholding increases but the company is still a small group is a consolidation required?

    • X Ltd has 6 subs and consol is prepared. In Feb 2020, a NewCo-Y Ltd is incorporated and buys X Ltd. Y prepares consol accounts. Should 19 comparative be shown in Y's group acs?

    • How is goodwill of a business purchase accounted for if the purchase price is dependent on future sales?

    • Does Co C have to be consolidated if the ultimate parent (A) owns a golden share in (B) if A indirectly only holds 37%?

    • What accounting period do I use for the first consols with new Hold Co? One of the subs has a different year end.

    • Can a parent and subsidiary use a separate cost and revaluation accounting policy for P&M in a consolidation?

    • Can a subsidiary choose not to prepare a cash flow statement if its parent includes one in the consolidation?

    • Which entities need to be included in consolidation?

    • How to account for a situation when there are two different companies which own golden shares in our audit client?

    • Treatment of FX differences on consolidation

    • Non co-terminous year ends for consolidation
  5. 5

    • I have a client who wants to disclose ‘Interest bearing loans and borrowings’ as a separate line item on the face of the company Balance Sheet (instead of within Creditors due within/after one year & disclosed separately in the notes to the accounts)
  6. 6

    • What adjustments are required to PPE on transition to FRS 105 if previously held at cost under FRS 102?