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Understanding the Differences Between FRS 102 and FRS 105 1 Credit

Understanding the Differences Between FRS 102 and FRS 105 1 Credit

  • Rating

    4.5
  • Published on

    September, 2024
  • Subject Area

    Accounting

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Dec 02, 2024 | 09:30 AM ET

Learning Objective

  • Identify the key differences between FRS 102 and FRS 105.
  • Apply the appropriate standard to various business contexts.
  • Discuss the implications of each standard on financial statements and reporting.
  • Analyze compliance with the applicable standard in financial reporting.

Course Overview

Curious about the differences between FRS 102 and FRS 105? This online course comprehensively compares the Financial Reporting Standard (FRS) 102 and Financial Reporting Standard (FRS) 105, highlighting their key differences and implications for financial reporting. Designed for accounting professionals, financial analysts, and business owners, it will enhance your understanding of the reporting requirements and guide you in the appropriate application of each standard.

Join us to delve into the nuances of these financial reporting standards and learn how to apply them effectively in various business contexts. By understanding the key differences, you'll be better equipped to recognize the implications of each standard on financial statements and ensure compliance in your financial reporting. This course is essential for anyone looking to deepen their knowledge of local GAAP.

Major Topics Covered: 

  • Micro Company – Mandatory Disclosure (ROI)
  • Trade and Asset Acquisition
  • Foreign Exchange Forward Contract
  • Financial Statement
  • Government Grants

This webinar is ideal for finance professionals, accountants, auditors, and anyone involved in financial reporting within Ireland and the UK. Whether you're a CFO, accountant, or auditor, this course will provide valuable insights and knowledge to help you make informed decisions on the most appropriate framework for your locally-based clients. Register today to build a solid foundation in local GAAP.

At MY-CPE, we offer top-notch ICAEW CPD Courses designed specifically for Chartered Accountants in England and Wales. Our ICAEW ethics CPD course ensures you meet ethical standards, while our ICAEW CPD online courses provide flexibility and convenience. Our expert-led content helps you stay compliant and advance your career with ease. Choose MY-CPE for your continuing professional development needs and experience high-quality education that fits your schedule. Join us today and benefit from the best ICAEW CPD courses available, tailored to enhance your professional growth and keep you ahead in your field.

  • 1 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit of Financial Reporting for Chartered Global Management Accountants (CGMA)
  • 1 CPD Credit for Association of Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountant - ICAEW
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland

  • 1 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit of Financial Reporting for Chartered Global Management Accountants (CGMA)
  • 1 CPD Credit for Association of Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountant - ICAEW
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland

Additional Information

Credits

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

About Instructor

After graduating with a second class first division honours degree in Economics from Queens University, Belfast in 1972 Robert trained as an Irish Chartered Accountant with Price Waterhouse, qualifying in first place in his final examinations in 1975. Subsequently he was employed as the Financial Controller of ICB, a subsidiary of Shell (UK) and as a personal assistant to the partners in James Baird & Co (now part of PricewaterhouseCoopers).  In 1981 he was appointed a Director of Business and Accounting Training in Dublin where he embarked on his academic career, teaching mainly on the professional examination courses for ICAI, CPA, CIMA and ACCA in Belfast and Dublin.  In 1985 he joined Queens University as a full time lecturer and moved to the Ulster University in 1992 as a Senior Lecturer. In 1994 he was appointed to the Chair in Financial Reporting at Ulster.

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. Three of his publications are currently core textbooks for two of the main professional accounting bodies in the United Kingdom.  His publications include IFRS:A Quick Reference Guide (October 2008),  a fourth edition of Accounting Standards in Depth (January 2003), UK Accounting Standards: A Quick Reference Guide (December 2004) and the first edition of Topical Issues in Financial Reporting, all published by the Chartered Institute of Management Accountants and Elsevier. He has written International Financial Reporting Standards in Depth  which was published by Elsevier/CIMA Publishing in July 2005. This has been translated into Russian. He co-authored A Case Study Approach to International Financial Reporting Standards published by The Institute of Certified Public Accountants in Ireland. He was also the editor and main author of the university's quarterly  publication "Irish Company Reporting" (1992-2001) which outlined current practice throughout the island of Ireland using a 150 company database. This was grant aided by the Irish Accountancy Educational Trust.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

4.5

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EM

Eric Mcgaugh, CPA (US)

Being a U.S. CPA, this was an interesting perspective to see how such items are handled in the U.K. and Ireland.

DM

Denise Mitchell, CPA (US)

It was very interesting learning about British and Ireland rules.

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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