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FRS 102 The new rules on leasing explained

Reference:FRS10224
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Overview

This webinar will go into detail on different aspects of how to apply the new rules to be implemented from the latest amendments to FRS 102 on leasing.

 


Key topics that will be covered in the webinar will be: 

  • The new accounting model for lessees
  • Exemptions from the new rules
  • Options on low value and short-term leases
  • The definition of a leases and distinction from service contracts
  • How to account for hybrid leases and service-based contracts
  • Initial recognition of lease assets and lease obligations
  • Subsequent measurement
  • Reassessments of lease terms and purchase options
  • Reassessments of residual value guarantees and variable leases based on an index
  • Modification of lease contracts – the three scenarios
  • Presentation of lease assets and obligations
  • Disclosure requirements
  • Brief review of lessor accounting
  • Sale and leaseback transactions
  • Impact on the IASB’s IFRS for SMEs and FRS 105
 
Speaker:
Robert Kirk
Emeritus Professor of Financial Reporting, Ulster University

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. In 1984 he was appointed a full time lecturer in Queens University and later moved to Ulster University in 1992 as a Senior Lecturer. In 1994 he was appointed to the Chair in Financial Reporting at Ulster. He was made Emeritus Professor in September 2019.

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 (May 2020) is the second edition of ‘A practical guide to UK and Irish Gaap’ (552pp) published by the Institute of Chartered Accountants in Ireland.

He has lectured extensively within Ireland and Great Britain on the subject of accounting standards to such diverse organisations as British Gas Plc, GEC, Pilkington Glass, The Post Office, British Aerospace Plc, East Midlands Electricity, The Prison Service, the Department of Enterprise and Employment, Sheffield Teaching Hospital, NATO, Royal Bank of Scotland, Bank of Ireland, John Laing Plc, Barclays Bank, Deloitte & Touche (Dublin) and Reed International Plc and has become one of the main CPD speakers in that field over the last twenty years for The Institute of Chartered Accountants in Ireland (ICAI), The Chartered Institute of Management Accountants (CIMA) and the Institute of Certified Public Accountants in Ireland (CPA). He also lectured on several occasions for The Chartered Institute of Public and Finance Accountants (CIPFA) and The Chartered Association of Certified Accountants (ACCA).

Event details
Sector: Other
Date: 15 October 2024
End Date: 15 October 2024
Time:09:30-12:30
Duration: 3 Hours
Venue: On24
Capacity: 1000
CPD Units*: 3
*CPD Units are only verifiable if the event attended provides skills and/or knowledge relevant to your job or career aspirations.
Cost details
Members €129.00
Guest price €129.00
Booking details
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Futher details

Please note that registrations for this session will close at 12:00pm on 14th of October 2024

Important Information: an entry link to the session will issue to those registered by email after booking.


The webinar will be recorded and the recording will be available for those who have registered for the event. 


If you have any questions ahead of the session, please do not hesitate to contact us at irelandmembers@accaglobal.com.