Recent market research involving ten prominent entities from banking, insurance, and corporate sectors in the UK and Ireland reveals a limited number of programs addressing FRS 102 and FRS 105. Out of the three entities in the UK offering such programs, Shasat stands out. It has been distinguished as the premier choice for those seeking an in-depth understanding of FRS 102 and FRS 105.

Renowned for its premium professional education offerings, Shasat's program focusing on FRS 102 and FRS 105 – the essential UK accounting standards for small and medium-sized enterprises – marks its two-year anniversary. The course, known for delivering in-depth knowledge, remains a top choice for both professionals and enthusiasts aiming to master these pivotal standards.

The comprehensive course, titled "Mastering SME Accounting: An In-depth Workshop on FRS 102 and FRS 105," is tailor-made to offer participants an extensive insight into the intricacies of these standards, shedding light on their critical requisites and practical implications for SMEs.

FRS 102, a multifaceted standard, lays down the foundational principles of financial reporting within the United Kingdom and the Republic of Ireland. This encompassing standard covers a wide array of topics, encompassing the recognition and measurement of assets, liabilities, income, and expenses, as well as the presentation and disclosure of financial statements. It is particularly relevant to most SMEs in the UK and the Republic of Ireland, with updates introduced periodically. The most recent version was issued in March 2018.
On the other hand, FRS 105 offers a simplified framework, primarily designed for micro-entities, defined as very small businesses that meet specific size criteria. Derived from FRS 102, FRS 105 imposes fewer disclosure requirements, rendering compliance more accessible and cost-effective for micro-entities. This standard applies to entities that fulfil the criteria of a micro-entity under UK law, with its most recent update introduced in 2020.

Throughout the course, participants will gain an in-depth understanding of the scope and structure of both FRS 102 and FRS 105, delving into the core principles and concepts that underpin these standards. They will also explore the specific requirements and options available to SMEs under each standard, learning to apply these standards to real-world scenarios. This includes tasks such as preparing financial statements, measuring assets and liabilities, and handling common transactions and events.

The program caters to a diverse audience, including small business owners, accountants, auditors, and accounting students. It promises valuable insights into the realm of SME accounting within the UK and the Republic of Ireland. By the course's conclusion, participants should possess the proficiency to comprehend and apply FRS 102 and FRS 105 to various SMEs and scenarios. Additionally, they will grasp the challenges and opportunities that these standards present in today's dynamic business environment.

The course offers a comprehensive exploration of the FRS 102 and FRS 105 standards, encompassing their scope, structure, and critical requirements. Real-world case studies and practical examples are integrated to demonstrate the relevance and applicability of these standards in real business scenarios. Interactive exercises and case studies empower participants to reinforce their understanding of the material. Additionally, the course provides access to a wealth of up-to-date resources and materials, including the latest versions of the FRS 102 and FRS 105 standards, guidance notes, and practical tools and templates. Throughout the learning journey, instructors offer personalized support and feedback to address queries and provide guidance. Moreover, the course offers valuable professional development opportunities by granting CPD (Continuing Professional Development) hours and certification upon successful completion.

For those interested in enrolling in this valuable course, Here is the schedule of upcoming programs by Shasat. However, we recommend you continue to visit Shasat's website for the most up-to-date program schedules.

FRS 102 and FRS 105 Masterclass | GID 37001 | London: November 29-30, 2023

FRS 102 and FRS 105 Masterclass | GID 37002 | Edinburgh: October 12-13, 2023

FRS 102 and FRS 105 Masterclass | GID 370000 | Online | Available on request

For more details and to enrol in FRS 102 and FRS 105 Masterclass, please visit:
https://shasat.co.uk/product-category/frs-102/

This program promises to be an indispensable resource for individuals seeking to master the intricacies of SME & Micro entity accounting in the UK and the Republic of Ireland, ensuring they are well-equipped to navigate the challenges and opportunities in the dynamic world of finance and accounting.