Properties- Accounting and Audit Issues
The aim of this course is to consider in detail the practical issues arising from the accounting and audit of properties.
Content will include:
- Investment properties:
- Definition, measurement, transfers, disclosures, mixed use
- Impact on P&L and reserves
- Properties within property, plant and equipment:
- Capital and revenue expenditure, major inspections, cost or revaluation policy
- Rent concessions and lease incentives
- Properties held as stock
- Transfers between current and fixed assets and between PPE and investment properties
- Deferred tax - making and reversing provisions, indexation allowance and the impact on revaluation reserve
- Sale and repurchase agreements
- Sale and lease back arrangements
- UK GAAP and IFRS 16
- Key risk areas, including title, valuations, relying on experts, going concern, revenue recognition, provisions and laws and regulations
- Evidence gathering issues
The above content relates to 2021 events only.
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