2 days (12 CPD Hours)
Introduction
ICAEW Finance Management Faculty members can save £176 off the full delegate price.Free FMF membership for 2008 when you book a place at this event – join today by selecting the option on the booking form!
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Our ever successful two-day event – Update for the accountant in industry and commerce – continues to provide
accountants in business with a comprehensive update on all the key topics such as financial reporting, information
technology and company law.
The course in detail
Financial reporting
This part of the course reviews recent and proposed
changes in reporting requirements and practice
under both International and UK Accounting
Standards. It will focus on the programmes to
strengthen IAS and achieve compatibility with
US reporting requirements and the adoption
of IAS based standards in the UK.
In particular the session will cover:
- the current programmes of the ASB and IASB
including recent standards, exposure drafts
and discussion papers. The specific topics to
be covered will be determined by events but are
likely to include:
-
the IASB / FASB short term convergence
project
- development of a new framework for
financial statements
- reporting financial performance and position
- financial instruments
- leases
- the SME Standard for unlisted entities
- business combinations and consolidation
- non-financial liabilities including provisions
- revenue recognition.
- changes to reporting requirements under
company legislation including implementation
of changes arising from the Companies
Act 2006
- emerging issues including extension of fair value
accounting and a new approaches to accounting for pensions
- other developments affecting financial reports
including:
- statements of the Urgent Issues Task Force
and findings of the Financial Reporting
Review Panel
- stock exchange reporting requirements
- EU Directives and requirements.
Tax update, including VAT and payroll taxes
This session will review tax changes over the last year
and highlight major tax issues relevant to your
business. Key aspects will be explained and areas for
further reading identified. A variety of tax areas will
be covered.
Payroll taxes
- Changes in the taxation of benefits in kind
in the last two years
- Current issues in payroll administration –
new developments and problem areas
- Planning aspects of provision of benefits in kind
- Compliance – review of current compliance
hot topics
VAT
- VAT changes in the last two years
- Key VAT changes affecting the accounting
process and changes you will need to make
- Changes in Customs practice affecting a wide
section of businesses
- Review of major cases – highlighting
current pitfalls
Corporation tax
- Corporation tax changes in the last two years
- Major corporation tax issues for business &ndash
transfer pricing, accounting issues, research
and development
- Points to watch out for – capital allowances,
other issues
Company law update
To remind accountants working in industry and
commerce of the main statutory provisions of
company law, updating them on the most recent
and the forthcoming changes to the regulation
of companies brought about by the Companies
Act 2006. In addition there will be an update
on the most important company law cases
in the last 12 months.
General trends in company law
- Directors responsibilities
- Types of director and liability of
non-executive directors
- Directors duties – new cases and prospective
changes to this area
- Statutory liabilities of directors including
interest in company contracts, loans, interest
in contracts, service contracts etc
- Wrongful and fraudulent trading and recent
disqualifications
- Personal liability, including personal
guarantees given by directors
- Minority protection
- Developments in shares and share capital
- Dividends
- Health and safety matters, including
corporate manslaughter
Business law update
- Employment law update – recent cases
- Professional negligence – recent developments
- Developments in partnership law
Employment law update
This session will allow delegates to brush up on,
and further develop your essential employment
law knowledge and spend some valuable time ensuring
awareness of recent legislative change and important
case law, as well as an opportunity to gain an overview
of what is to come in this area. Given the pace of
change in employment law and its far reaching and
potentially costly consequences (if you end up at a
Tribunal in particular) an understanding of this area
of business management is of increasing importance.
- Review of most commonly referenced
employment legislation
- Overview of recent legislation and assessment
of its impact
- Understanding of recent important case law
to aid interpretation of legislative requirements
- Overview of legislation to come and its
likely effect
- Information on the legislation imparted via
an entertaining and informative quiz and
discussion session
- Question and answer session
Finance Direction: the financial
management challenge
As the finance director’s role has broadened
and the challenges facing finance directors have
increased, so has the volume of “solutions” to th e
problems and it is becoming increasingly difficult
and time-consuming to establish what really matters
and works.
To help address this problem the ICAEW is
planning to extend its highly successful thought
leadership programme into the finance and
management arena. The ICAEW Finance and
Management Faculty (FMF) plan to promote
relevant research and provide a focal point for
thinking on a wide range of topics relevant to
finance directors.
Chris Jackson, Head of the FMF will describe
recent developments in the following three area:
- the role of the finance function – finance has
evolved from transaction processing to business
partnering – in addition, significant parts of the
transaction processing work have been separated
through shared service centres and outsourcing
- managing the future – finance’s role as
owner of the process of planning for the
future is enormously powerful and critical
to the health of the business – two fundamental
tools in managing the future are budgeting
and forecasting, and risk management
- non-financial performance indicators –
despite the loss of the statutory OFR, reporting
non-financial indicators looks set to increase
in importance – this presents challenge; finance
owns the reporting process but often has little
influence over the robustness and suitability
of non-financial indicators.
Information technology
A review of the latest technologies and how
they will affect your business and your budget.
The session will also look at security and the
implications of online working and the best
techniques for reporting and analysing data.
- Understanding current trends
- Using IT to optimise time and to
increase productivity
- Using your existing investment
- Supplier relationship management
- Security – physical security and data security
- Risk management
- A brief guide to the future
Fraud and risk
With significant changes regarding fraud and
the role of accountants expected, this session
will cover these development and also look at:
- what role a finance department has in
fraud prevention
- why companies are unable to measure the
size of fraud in their companies
- why fraud is known as “the unmanaged risk”
- how corruption occurs and the consequences
- the preventative measures a company can take
- typical fraud risks for a company
- Sarbanes-Oxley and why you should understand your
fraud risks.
What are the benefits of attending?
- By spending just two days out of the office – this event will bring you up to date with the crucial changes which have taken place during the last year as well as the popular core subjects
- Focused and structured presentations are delivered by practical experts, pre-eminent in their fields
- The presentations are supported by extensive and detailed handouts, with the opportunity for questions, as well as excellent
networking opportunities
- Gain 12 CPD hours by attending
Who should attend?
This course will appeal to a range of delegates in industry and commerce of all professional bodies, particularly:
- senior managers with a wide portfolio of responsibilities
- more recently qualified professionals mindful of future responsibilities in their careers
- specialists wanting to keep generally abreast of changes in areas related to their current specialism.
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