Andrew Mead from AndMe Consulting is a specialist is accounting and financial reporting. He will guide you through the things all accountants have to consider when preparing financial statements in the current world. He will introduce accounting for new things businesses are experiencing and remind you of some unchanged principles.
Covid has changed all our lives but it has also given us lots to think about from an accounting point of view. Andrew will remind people of the accounting for government grants and explain the intricacies of accounting for the various government backed loans. There is also revised accounting for rent concessions which some businesses have received. Covid also gives us challenges on the valuation of both assets and liabilities, including the need to consider impairments of many assets on Balance Sheet. Finally, there is the need to consider the disclosures required to give the reader of the accounts an understanding of the position of the business.
Although the presentation will be UK GAAP based, most of the principles will also apply to IFRS adopters.