Event / Accounting Standards Technical Update 2023

Accounting Standards Technical Update

24 February 2023                          

Copthorne Hotel Effingham Park Gatwick RH10 3EU

Event overview

Session 1 – IFRS 16 – Accounting implications for the year end March 2023

This session will be a detailed review of some of the key issues within IFRS16 that will need to be considered for the first-year end for most public sector organisations are reporting under IFRS16.

It will be example driven to bring out many of the year end considerations in this area of reporting.

Key areas that will be covered include:

Definition of a right of use ROU

Lease modifications and reassessments

Reassessments and re-measurement issues

Rent free periods and lease improvements

Discount rate rules and when it is appropriate to recalculate lease liability using a different discount rate

Impairments of ROU and potential revaluations

Dilapidations

Other practical year end issues

All the above will be covered using interactive examples

Session 2 – Leasing, new accounting issues for 22/23, sustainability and intangible asset accounting

The session will start with outstanding IFRS16 issues

Introduction and overview of recent and impending IFRS developments

IFRS recent developments

Particular focus will be on reporting and auditing issues for 20/21, 21/22, 22/23 and beyond.

Sustainability accounting issues – Environment, Social and Governance (ESG)

New IFRS foundation, sustainability reporting and possible link to the FReM

The focus will be to update previously discussed issues in the 2023 technical presentations but will also look at the detail requirement for GHG’s, waste, water consumption etc. A review of the Scottish civil estates report will be used to show this relatively new reporting in action.

Intangible assets (IAS38)

This brief session will revisit the accounting rules and criteria for recognising intangible assets in the ARA’s and will then review budgeting guidance in this area to evaluate any significant issues

Questions and close

Speakers

• Sheila Stenson