Properties- Accounting and Audit Issues

The aim of this course is to consider in detail the problems associated with the accounting and audit of properties.


Accounting issues

  • Investment properties:
  • Definition, measurement, transfers, disclosures, mixed use
  • Impact on reserves
  • Including changes following the Triennial Amendments
  • Properties within property, plant and equipment:
  • Capital and revenue expenditure, major inspections, cost or revaluation policy
  • Transfers between current and fixed assets
  • Provisions – including the treatment of dilapidations
  • Deferred tax:
  • Making provisions, reversing provisions, impact on revaluation reserve
  • Sale and repurchase agreements
  • Leasing:
  • UK GAAP including lease incentives
  • IFRS 16 Leasing – the impact of capitalisation of operating leases on the financial statements and ratio analysis

Audit issues

  • Key risk areas, including title, valuations, relying on experts, going concern, revenue recognition, provisions and laws and regulations

CPD Hours - 3

CPD Course
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