Event Overview:

This essential seminar provides a deep dive into the latest Financial Reporting Standards (FRS) updates, both recent and forthcoming. Designed for accounting and finance professionals, it translates complex amendments into actionable knowledge. We will demystify the practical implications of key changes effective from 2024 through 2027—including FRS 1, FRS 12, FRS 107, FRS 21, FRS 109, and the transformative new FRS 118. Through detailed analysis and real-world case studies, participants will learn to navigate critical areas such as liability classification, leaseback accounting, supplier finance disclosures, and the treatment of ESG-linked financial instruments. Leave this session equipped to ensure compliance, enhance reporting transparency, and confidently implement the new standards.

Event Outline:

Effective from 1 January 2024

• FRS 1 (Amendments): Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants

• FRS 12 (Amendments): Lease Liability in a Sale and Leaseback Transaction

• FRS 107 (Amendments): Disclosure of Supplier Finance Arrangements

Effective from 1 January 2025

• FRS 21 (Amendments): Accounting for Lack of Exchangeability

Effective from 1 January 2026

• FRS 109 (Amendments):

-Classification of Financial Assets with Environmental, Social, and Governance (ESG) Features

-Settlement of Liabilities through Electronic Payment Systems

Effective from 1 January 2027

• FRS 118: Revenue and Income – Replacing FRS 1 (Presentation of Financial Statements) with a new comprehensive standard on presentation and disclosure.

Key Takeaways:

- Navigate the Timeline: Gain a clear, structured understanding of the phased implementation from 2024 to 2027, enabling strategic planning and seamless adoption.

- Decode Complex Standards: Move beyond technical language with clear explanations and practical case studies that illustrate how to apply the updates.

- Mitigate Risk: Learn to correctly implement critical changes to avoid errors in liability classification, lease accounting, and ESG-linked asset reporting.

- Future-Proof Your Expertise: Gain a first-mover advantage in understanding the profound shift in financial statement presentation and disclosure under FRS 118.

Who Should Attend:

- Accountants & Auditors: Ensure accurate application of new standards.

- Financial Controllers & CFOs: Align reporting strategies with regulatory shifts.

- Compliance & Finance Managers: Mitigate risks and leverage updates for strategic advantage.

- Investment Analysts & Advisors: Decode financial statements under revised frameworks.

Ideal for professionals seeking clarity on how these changes impact financial statements, tax implications, and business decision-making.