UK GAAP (FRS102) Training Courses
Transforming finance training
Why choose Virtual Finance Training for your UK GAAP (FRS102) Training?
We’re experts in Financial Reporting. This is why we are trusted as the chosen supplier of ICAEW Academy’s UK GAAP, IFRS and US GAAP courses!
Our unique style ensures that we bring UK GAAP (FRS102) training courses to life – we make it fun, practical and applicable to the real world and at the same time maintain technical rigour.
Our UK GAAP (FRS102) training is bespoke. Clients’ objectives often fall into one of the following categories:
What UK GAAP (FRS102) training courses do we offer?
Below we have illustrative outlines of the types of courses that we can offer. Please bear in mind, we work in partnership with our clients to create bespoke US GAAP training courses.
Click on the box to be taken to the course page with more detail.
Our refresher training explores the main areas of FRS102 in a practical and interactive way. Ensure that you not only understand the accounting, but appreciate both the commercial impact and key risk areas for your organisation.
Our refresher training explores the main areas of FRS102 Charities SORP in a practical and interactive way. Ensure that you not only understand the accounting but appreciate both the commercial impact and key risk areas for your charity.
Do we run public UK GAAP training?
At the moment all of our UK GAAP (FRS102) training courses are for organisations (ordinarily with over 6 people who would want training). We don’t currently offer public courses but if this is something of interest to you please get in touch and we will see what we can do to support you.
Isn't FRS102 just the same as IFRS now?
It’s true that the “new UK GAAP” (at some point I need to stop calling it “new”- it’s been over 5 years now!) is heavily influenced by IFRS (the FRC’s starting point was IFRS for SMEs).
However, it would be wrong to say that FRS102 is the same as IFRS. The FRC took their responsobility of proportionate accounting solutions (whilst keeping an eye on international harmonisation) very seriously.
This has resulted in FRS102 which is considerably more challenging than old UK GAAP in a number of areas (such as business combinations, deferred tax and financial instruments) but also still easier to follow than IFRS.
There is a significant challenge for organisations who have staff who have qualified under a variety of regimes (old UK GAAP, IFRS and some even under the new UK GAAP), and unfortunately the devil is often in the detail. Areas that look similar at first glance often have accounting differences.