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Component Accounting and IFRS

Component Accounting and IFRS. A Badenoch & Clark and Beever and Struthers roundtable for accounting & finance professionals. Friday 15 July, 2011. Points for discussion. 10:00 Welcome and introduction – Jonathan Rayfield, Senior Manager, Badenoch & Clark

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Component Accounting and IFRS

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  1. Component Accounting and IFRS A Badenoch & Clark and Beever and Struthers roundtable for accounting & finance professionals Friday 15 July, 2011

  2. Points for discussion 10:00 Welcome and introduction – Jonathan Rayfield, Senior Manager, Badenoch & Clark 10:10 Component accounting and IFRS - Maria Hallows, Beever and Struthers 10:30 Questions from the floor and roundtable discussion 12:30 Close - Jonathan Rayfield, Senior Manager, Badenoch & Clark

  3. Component Accounting • Deadline 31 March 2012 accounts • Adopted early? • Progress • Issues

  4. Progress • Analysis done – at what level • Systems • Common themes • Records available? • Using matrix?

  5. Issues • Level of analysis – scheme/property/other • Capitalisation of overheads • Prior year adjustment • Corporation tax • Grant

  6. IFRS • Consultation ended • Tier 1 or Tier 2 (or even Tier 3?) • Issues between Tiers

  7. IFRS for SMEs (Tier 2) • Less choice • Complex options removed • Force housing associations into Tier 1?

  8. Key Issues • Capitalisation of borrowing costs • Financial instruments • Valuation of housing properties • Leases • Grants treatment

  9. Beyond the accounting standards.... • Loan covenant impact • 2014/15 – need 2012/13 as comparatives

  10. St George’s House 215-219 Chester Road Manchester M15 4JE t: 0161 832 4901 f: 0161 835 3668 w: www.beeverstruthers.co.uk

  11. Summary and close Jonathan Rayfield, Senior Manager, Badenoch & Clark

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