Course Details

This short webinar will cover the key changes that have been introduced by the International Accounting Standards Board (IASB) to replace IAS 1 with IFRS 18.These will be particularly important for those accountants in the UK that are involved in either preparing or advising clients on how to comply with international financial reporting standards. It is important that they have a clear understanding of the significant changes that have been implemented in performance reporting and in cash flow presentation.

 

Robert Kirk will cover the following topics during this presentation:

  • The objective and scope of IFRS 18
  • The roles of the primary financial statements and the notes 
  • Retention of aspects of IAS 1
  • Principles of aggregation and disaggregation
  • Presentation of the Statement of Profit and loss – new mandatory sub totals and new presentation between operating, investing and financing activities
  • Analysis of expenses by nature or function or mixed
  • Introduction of Management Performance Measures (MPMs)
  • Reassessments and modifications of lease agreements
  • Capital and other disclosures
  • Amendment of cash flow statement under IAS 7

 

By attending this session, you will be able to prepare and advise clients on the likely implications of the changes to performance and cash flow reporting.

 

The session be of most interest to accountants involved in the preparation of IFRS financial statements but also to practicing accountants who provide financial advice and auditors.

 

Those attending should have an existing knowledge of the existing IAS 1 in order to best appreciate the changes being implemented.

CPD Course Speaker

Robert Kirk

Robert qualified in first place in 1975 as an Irish Chartered Accountant after graduating in Economics from Queens University. He trained in practice with Price Waterhouse and later worked in industry with a subsidiary of Shell (UK). His teaching career started with Business and Accounting Training (now Griffith College) in Dublin where he taught mainly on the professional examination courses for ICAI, CPA, CIMA and ACCA in Belfast and Dublin. In 1984 he was appointed a full time lecturer in Queens University and later moved to 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. His latest publication (co authored with Stephen McNamee) is the second edition of ‘A practical guide to UK and Irish Gaap’ (May 2020) (552pp) published by Chartered Accountants Ireland.
He has lectured extensively within Ireland and Great Britain on the subject of accounting standards to such diverse organisations as British Gas Plc, The Post Office, British Aerospace Plc, East Midlands Electricity, The Prison Service, the Department of Enterprise and Employment, Sheffield Teaching Hospital, NATO, Royal Bank of Scotland, Bank of Ireland, John Laing Plc, Barclays Bank, Deloitte & Touche (Dublin) and Reed International Plc and has become one of the main CPD speakers in that field over the last fifteen years for The Institute of Chartered Accountants in Ireland (ICAI), The Chartered Institute of Management Accountants (CIMA) and the Institute of Certified Public Accountants in Ireland (CPA). He also lectured on several occasions for The Chartered Institute of Public and Finance Accountants (CIPFA) and The Chartered Association of Certified Accountants (ACCA).
In the last few years he has lectured on international financial reporting standards to major companies in Cyprus, United States, Bahrain, South Africa, Zambia and Ghana.