FRS 102 - Accounting for Financial Instruments - Key Points

This course will cover the following:

• Basic instruments at amortised cost
• Basic instruments at fair value
• How to determine fair value
• Financing transactions – loans not at normal market rate
• Loans to small entities from owner-managers
• Implications for distributable profit
• Non-basic instruments including forward exchange rate, futures and interest rate swaps
• Hedging compared to Hedge accounting
• Disclosure requirements for basic and non-basic instruments
• Overview of differences between UK GAAP and international accounting standards