A one day course provided by CIPFA's Finance Advisory Network (FAN) giving a summary of the IFRS transition balance sheet process with particular focus upon; implementation timetable and the current status of the CIPFA IFRS Code; First Time Adopter Exemptions, presentation of the local authority IFRS balance sheet and other related first time adopter issues; Mapping the GAAP balance sheet to the IFRS transition balance sheet.

The creation of a charitable entity requires very specific adherence to the accounting rules and regulations established through charities legislation and by compliance with specific recommended accounting practice. Local authorities are increasingly working with the third sector to deliver services and many are now considering employing LLPs for the performance of their services. This course will provide some background to charities and detail on the accounting environment in which charities must operate and also provide an introduction to LLPs.

This two-day course provides a review of the key standards that are required to be implemented through the I-FReM to prepare shadow IFRS accounts. The course will provide practical tips for managing the conversion to IFRS and examples of the accounting treatment for key transactions and balances that focus on Central Government and Health. During the course, you will have the opportunity to apply your knowledge and understanding of the accounting requirements through an in-depth practical case study to prepare a full set of shadow accounts.