Top Ten Queries Relating to the Balance Sheet
Category: Financial Reporting | Duration: 2hr | Tag: VODIREFRCO2204 | Type: Video | Speaker: Lindsay Webber, Elaine Jackson | Date: 10/02/2022 12:00
Course Details
- Should a PCP contract be recognised as a finance or operating lease?
- How should convertible shares and a loan note be accounted for?
- How can I assess an asset for impairment if fair value is difficult to establish?
- Should a group loan without a formal agreement be recognised as repayable on demand and what are the implications if a letter of support is required?
- Investment property
- When is an independent valuation of an investment property required?
- Has the ‘undue cost or effort’ exemption for measuring investment properties ceased? If an investment property ceases to meet the criteria as an investment property, how is it treated?
- Provisions – Disclosure requirements where a revenue audit is ongoing – An analysis of what is required – disclosure, no disclosure or recognition of a provision?
- I have a company who paid a liability for negligent work. A subcontractor who was involved in the work agreed to pay part of the bill. Do I recognise an asset for this amount?
- A property is transferred from the parent to a sub who will sell it a third party, does it have to be transferred at market value. It was classified as PPE under S16.8, but does it is now classified as investment property and held at fair value?
- A company intends to apply for planning permission for the property development. Can the planning costs be capitalised as property, plant & equipment?
- Would leasehold improvements be viewed as a separate class of assets to property/ buildings?
- What are the disclosure requirements for a mortgage judgement under FRS 102 and FRS 105?
CPD Course Speaker
OmniPro
Lindsay Webber
As a member of our Practice Support team, Lindsay’s focus is on helping practices achieve on-going best practice compliance, providing in-house training, technical assistance, and file reviews.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.
OmniPro
Elaine Jackson
As a member of our Practice Support team, Elaine’s focus is on providing firm’s with assistance and training in the following areas; Anti-Money Laundering, Audit Testing and Walk Through Procedures, Audit Planning and Efficiency, OmniPro Audit Working Paper Demos, Preparing for Monitoring Visits and Post Monitoring Visit follow-ups.
Elaine has over 15 years Accountancy Practice experience which has provided her with a wealth of knowledge across all industries and sectors. Elaine is an AITI Chartered Tax Advisor, a Certified Public Accountant and holds a Diploma in Corporate Finance.
In her previous roles, Elaine has experienced a number of ACA and ACCA monitoring reviews. This experience has provided Elaine with a great understanding and appreciation for the challenges facing Accountants in practice today.
Elaine has over 15 years Accountancy Practice experience which has provided her with a wealth of knowledge across all industries and sectors. Elaine is an AITI Chartered Tax Advisor, a Certified Public Accountant and holds a Diploma in Corporate Finance.
In her previous roles, Elaine has experienced a number of ACA and ACCA monitoring reviews. This experience has provided Elaine with a great understanding and appreciation for the challenges facing Accountants in practice today.