Financial Reporting Update – Insights into financial reporting requirements due to Covid-19

Financial reporting is increasingly important due to the coronavirus pandemic and the impact on nearly all entities. This session will look into the key areas of accounting affected by Covid-19 and the applying the main principles and disclosure requirements, considering both IFRS and UK GAAP.

Key content:

• Accounting for impairment of non-current assets and financial instruments, including trade receivables and the differences between IFRS and UK GAAP
• The impact of leases under IFRS 16 and the latest rent concessions amendment for both IFRS and UK GAAP
• Provisions – complying with the recognition and measurement principles
• Government grants – where they are disclosed in the financial statements
• Going concern disclosures – the impact of Covid-19, possible breach of covenants, government support, forecast of worst-case scenarios

Speaker details:

Clare J Jones, FCCA, is an experienced accountancy trainer, specialising in IFRS, FRS 102 and auditing. Clare has been delivering engaging high quality technical training to local and international audiences for over 15 years. Her excellent communication and presentation skills maximise learning retention on courses. She is the Expert Trainer: Financial Reporting and Audit for One Two Training Ltd.