Programme Objective

The coronavirus (COVID-19) pandemic has significantly impacted entities, disrupting their operations. Measures taken to contain the virus have significantly affected economic activity, which in turn has implications for financial reporting.

This workshop aims to illustrate the implications on common accounting areas arising from challenging business environment by using illustrations and practical cases.
 

Programme Outline

 

• Accounting considerations and disclosures for:
  • Impairment of assets
  • Fair value measurement
  • Inventories
  • Onerous contract provisions
  • Accounting estimates
• Accounting for loan repayment holiday from Borrower’s perspective arising from:
  • Legislation
  • Negotiation with lender
• Accounting for rent concessions for lessees using practical expedients in FRS 116 – leases
• Accounting for rent concessions for lessees NOT using practical expedients in FRS 116 – leases
• Disclosure requirements related to events or conditions that may cast significant doubt upon the entity's ability to continue as a going concern.

Training Methodology

Lecture style with exercises / case studies

Closing Date for Registration

1 week before programme or until full enrolment.
 

Intended For

Accountants, finance managers, auditors and users of financial statements.

Programme Facilitator(s)