2023-24 Update: UK & Ireland GAAP

This course will enable you to

• Consider the key changes to UK and Ireland GAAP proposed by the FRC in FRED 82, including the impact of the periodic review on small entities.
• Identify notable deficiencies found in financial statements.
• Correctly report on foreign currency transactions.
• Recognise how to deal with both adjusting and non-adjusting events after the reporting period.

About the course

There are a lot of changes coming up over the next year for UK and Ireland GAAP reporters, following on from a periodic review of the standards. It’s important to grasp what these new rules will mean to prevent misinterpretation of your financial reports. This requires keeping up with the latest GAAP updates and making sure you have a clear understanding of the transactions being handled.

This course will help you to shape your response of the FRC's proposed amendments to UK and Ireland GAAP proposed in FRED 82. You’ll explore common deficiencies found in financial statements and how to handle foreign currency transactions and events after the end of the reporting period. Refine your knowledge of these transactions and understand the relevant reporting requirements.