2017 Financial Reporting Faculty Resources – make the most of your membership

As we approach the end of another busy year, we highlight some of the resources available to FRF members to help them keep up to date with developments.

UK GAAP
Although everyone should have made the transition to new UK GAAP by now, pockets of confusion still exist. Our 2017 UK GAAP factsheet is a great reference tool regarding the changes coming into force and includes a section outlining key problems and possible pitfalls, together with helpful hints and tips.

For those who use FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime, our factsheet - Micro-Entity Accounts: Moving to FRS 105 – is full of useful information on issues such as scope, eligibility and the key provisions of the standard, as well as some practical considerations when applying the standard.

All our UK GAAP factsheets link to the faculty’s UK GAAP standards tracker. The standards trackers provide details of recent amendments, the dates they come into force and link to the relevant version of the standard for your time frame. 

The faculty also produces a range of updates for more specific problem areas such as small company filing options, disclosure of transactions with directors and accounting for directors’ loans. You can find all our updates and FAQs at icaew.com/ukgaapfaqs.

IFRS
For those engaged in IFRS financial reporting, work will be underway on the first-time application of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases. Suffice to say we have a host of relevant, useful and engaging material for you to utilise from factsheets, webinars and the IFRS standards tracker.

One key feature that we offer FRF members is full access to eIFRS, which is IASB’s online portal to the IFRS standards. Membership of our faculty to access eIFRS alone is already an instant cost saving!

What else?
Additional resources our members find useful:

  • Webinars: expert guests provide insights into a wide range of topics - from small companies filing options to IFRS 17 Insurance Contracts. Eleven webinars are produced annually which are free for FRF members and past webinars are easily accessible.
  • By All Accounts: the Financial Reporting Faculty journal includes a range of topical features and commentary from experts, helping to put financial reporting into context.
  • Conferences and events: our members enjoy a heavy discount on FRF events and ICAEW Academy CPD events too.

Haven’t found what you’re looking for?
Then let us know! The faculty is always happy to receive suggestions for new things we could be doing or things we could do differently. So send any suggestions you might have to frfac@icaew.com. We’d be delighted to hear from you.

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