Course outline:
This series of short live streamed modules will focus on topical issues of concern for the regulators, this module looking at revenue recognition.
Revenue recognition is a common area of weakness flagged by the FRC in their monitoring of corporate reporting, but also audit monitoring bodies and also Mercia’s file reviews, with issues concerning both client’s selection and application of appropriate policies, disclosures and the audit work around these.
In particular with the upcoming revisions to FRS 102 and revenue recognition principles of this standard aligning to those in IFRS 15, we expected to see an increase focus in the area from monitoring bodies in coming years.
CPD Hours: 1
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Course details:
This course will focus on:
- A reminder of the relevant accounting requirements
- What regulators are saying regarding revenue recognition
- Common weaknesses found on Mercia reviews
- Practical tips to overcome these
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