UK GAAP: Choice & Decision – Guernsey

Tuesday July 2, 2013 – Tuesday July 2, 2013

Map and Directions | Register

Description:

For a company applying UK GAAP, there is a decision to be made by 2015 at the latest. With UK GAAP being replaced by FRS 100, 101 and 102 the company must decide:

• Should it apply FRS 102?
• Should it apply IFRS SMEs?
• Should it apply FRS 101?
• Should it apply full IFRS?

This one day session presents a detailed review of each of the 35 sections of FRS 102 and for each section presents a comparison with the treatments available under IFRS SMEs, FRS 101 and the full IFRS. Decision making is assisted by drawing conclusion as to both the accounting and business implications offered by each choice.
The day will provide the opportunity for the delegate to:

• Gain timely and relevant technical knowledge
• Debate practical issues
• Become better placed to make an informed decision regarding the accounting regime to be followed
• Make use of the course material in the workplace which will be presented as a user friendly document comparing FRS 102, IFRS SMEs, FRS 101 and the full IFRS

DETAILS

Date: 2nd July 2013

Time:
08:45 Registration
09:00 Start
16:30 Finish

Venue: TBC

CPD: 6 Hours

Cost: £399.00 One Day Workshop
– 10% discount for 3 bookings or more
– 10% early bird discount if booked before 25th May 2013

THE COURSE IS DESIGNED & PRESENTED BY LINCOLN MILES BA HONS, FCCA, FCMI, FCIS

Lincoln Miles is a technical expert and professional presenter. He has over 12 years of experience in training finance professionals. He has trained staff at all levels of the organisation from junior staff to board members. Lincoln’s clients include governments, commercial organisations, financial organisations, insurance firms, accounting firms and national regulatory bodies.

Lincoln has designed and presented many technical accounting updates in Jersey and is a familiar presenter to those in the finance industry.

Lincoln’s business Miles Professional Development is based offshore in the Channel Islands. He provides training to clients in the Channel Islands, UK and throughout Europe.

IN-HOUSE TRAINING – Hold this course at your convenience.

This programme and the issues it addresses can be delivered at a time, location and place to fit your business schedule. In-house training can be tailored to focus on the specific needs and challenges facing your staff. We will develop and provide all course materials. The training will be provided by Lincoln Miles.
For details on in-house training for this particular workshop, please contact Lincoln Miles
Call: +44 (0) 33 0001 0051 or
Email: lincolnmiles@milesprofessionaldevelopment.com

WORKSHOP DRIVER
The long awaited FRS 102 was published in March 2013. With 2 years to get ready but instant adoption permitted we see changes in accounting for UK companies, perhaps not creating a big impact on the numbers being reported but marking a new way forward with the simplified standards removing approximately 90% of content compared to existing UK GAAP.
FRS 102 is set to replace existing UK GAAP and is based upon on IFRS for SMEs but with changes needed to make it work in the UK. Some of the choices removed under IFRS for SMEs, have been reinstated under FRS 102 to make the rules fit for UK Business.

A company following UK GAAP now has to choose between adopting FRS 102, adopting IFRS SMEs, adopting FRS 101 – the full IFRS with simplified disclosure or adopting the full IFRS. There are advantages and disadvantages to each option. The choice is likely to depend on which area of accounts are most pertinent to the entity. This one day workshop reviews all 35 sections of FRS 102 and provides a comparison of treatments across all the alternatives.
WORKSHOP AGENDA

SESSION 1:

• Scope
• Concepts and Pervasive Principles
• Financial Statement Presentation
• Statement of Financial Position
• Statement of Comprehensive Income and Income Statement
• Statement of Changes in Equity and Statement of Income and Retained Earnings
• Statement of Cash Flows
• Notes to the Financial Statements
• Consolidated and Separate Financial Statements

SESSION 2:

• Accounting Policies, Estimates and Errors
• Basic Financial Instruments
• Other Financial Instruments Issues
• Inventories
• Investments in Associates
• Investments in Joint Ventures
• Investment Property
• Property, Plant and Equipment
• Intangible Assets other than Goodwill

SESSION 3:

• Business Combinations and Goodwill
• Leases
• Provisions and Contingencies
• Liabilities and Equity
• Revenue
• Government Grants
• Borrowing Costs
• Share-based Payment
• Impairment of Assets

SESSION 4:

• Employee Benefits
• Income Tax
• Foreign Currency Translation
• Hyperinflation
• Events after the End of the Reporting Period
• Related Party Disclosures
• Specialised Activities
• Transition to the FRS

Register

BPP – Exam Session

Tuesday December 3, 2013 – Tuesday December 3, 2013

Map and Directions | Register

Description:

Click here to book all BPP training events

ONE PROGRAMME, TWO SOLUTIONS

Whether you want to top up your CPD by attending individual sessions or gain
certification, we can assist.

BPP Professional Education in conjunction with Comsure Compliance Limited has developed the:

JERSEY REGULATORY AWARENESS PROGRAMME

Attend individual sessions or attend all 8 sessions, a 9th refresher session and complete a short exam to gain the BPP Jersey Certificate in Regulatory Awareness, demonstrating your understanding of the key elements and drivers behind the regulatory framework in Jersey.

BPP Professional Education is part of the Apollo Group – a world leader in the provision of both professional examination and skills training to the financial and
corporate sectors, specialising in open and tailored programmes.

BPP Professional Education is uniquely placed to provide business development support to Jersey businesses. We have over fifteen years experience providing training, business development and consultancy services to Jersey organisations.

We also have wider experiences and capabilities as a result of our international activities and the experience of our consultants and trainers. Whilst we have the breadth of capability that comes from an international client base, we have never lost our Jersey centric commitment. The transfer of experience and knowledge into our Jersey operation has always been one of our primary purposes. It is in fact one of the essential under pinning components of our mission statement.

“The mission of BPP Professional Education is to help people and businesses build their skills. We train for recognised professional qualifications and offer related development training to management and staff at all levels”

COMSURE’s Training services (public and in house) are designed for people working in both the financial services sector and non-financial organisations.

Comsure provides in-depth training on financial and associated concepts and provides tools that can be used in the workplace every day. Technical concepts are clearly articulated and practical examples help learners grasp the subject.

Our training courses are designed for both financial and nonfinancial staff of all levels to help them perform more effectively in their jobs.

Excellence in Financial Services Training

With an increased number of training providers in the market place, we understand that choosing the right one for your specific needs can be difficult and  daunting. What sets us apart from the rest is that rather than utilise a small number of in-house trainers we utilise specialists from different fields of expertise.

Our Commitment to You – COMSURE’s Financial Services Training, we stand for uncompromising  professionalism, quality and innovation. Our aim is to empower our delegates (and ultimately our clients) to succeed by developing their existing knowledge and skills base in their professional career.

VENUE
All sessions will take place at BPP, 19 Hilary Street.

PRESENTATION
MATHEW BEALE FCSI AIFP,
Managing Director Comsure Compliance Limited
Mathew, is a Fellow of the Chartered Institute for Securities & Investment and founder of Comsure. Having started his career working within the asset management industry for ten years, Mathew has since focused on financial services regulation. Between 1995 and 2002, he worked for the body that is now known as the Jersey Financial Services Commission, where he was responsible for the day-to-day conduct of business of regulated entities and where he reached the position of Senior Compliance Manager. Since 2002, he has worked within private practice in all aspects of regulatory compliance including:

Assisting in the undertaking a number of reporting professional projects for the Jersey Financial Services Commission;

Being involved in the preparation of the anti-money laundering guidance notes in Mauritius;

Writing and delivering numerous training courses relating to the field of compliance for private and public bodies.

Being a senior lecturer on the International Compliance Association’s (ICA) Introductory Certificate in Compliance, the International (and UK) Diploma in Compliance and the UK Diploma in Anti-Money Laundering. During this time he was an acknowledged co-author of the materials used by the ICA in their UK and International Diplomas in Compliance.

Since 2005, he has worked within Comsure in all aspects of regulatory compliance, including:

Attending at various financial services businesses with a view to assisting them in their internal audit processes;

Developing rectification programmes for entities which had come under regulatory review;

Working in Mauritius on specialised assignments and since 2009 assisted the regulator in the Seychelles in delivering specialised training.

COSTS
You can book on individual sessions or the full programme (and get 9 sessions for the price of 8)

Individual sessions:   £125.00
Full programme (9 sessions & exam): £1,000.00

Prices do not include GST. Those organisations or individuals who are not exempt from GST will pay an additional  5%.

DISCOUNT
Organisations booking 5 or more people onto an individual session can receive a 6th place free.

TIMINGS
All sessions will run from 16:30 to 18:30

HOW TO BOOK
Simply complete the booking form at the back of this brochure and forward to Ian Lucas at BPP.

Email: ianlucas@bpp.com,
Fax: 01534 711801.

Once BPP has received your booking we will send you confirmation along with full joining instructions.

TERMS & CONDITIONS
If you need to make amendments you can email ianlucas@bpp.com. We will accept name changes at any point up to the start of the course free of charge.

If it becomes necessary to cancel a course delegate the following policy will apply:
Cancellations 28 days or more in advance, no charge/full refund
Cancellations 27 – 7 days in advance, 50% charge
Cancellations less than 7 days in advance, no refund

BPP are working in conjunction with Comsure to deliver the Jersey Regulatory Awareness Programme. All content, delivery and views expressed are those of Comsure.

CHANGE OF DATE, VENUE OR TUTOR
BPP reserves the right to change course dates, venues or tutors, or cancel in exceptional circumstances. We will of course advise you of any changes as early as possible.

 

UNDERSTANDING THE JERSEY REGULATORY
ENVIRONMENT – AN OVERVIEW  (PART 1)
29 JANUARY
– Introduction to compliance and designing a compliance framework
– Know your way round the JFSC
– Understand the JFSC structure
– Laws, codes, and other rules an overview
– JFSC communications
– Understanding JFSC visits and the risk based approach
– What to keep an eye out for – what is coming up?

UNDERSTANDING THE JERSEY REGULATORY
ENVIRONMENT – AN OVERVIEW  (PART 2)
12 FEBRUARY
This session will consider Policy Statements (PS) which record the Commission’s policies in respect of certain aspects of legislation or regulatory Approach and Guidance Notes (GN) that provide guidance on complying with either a legislative or regulatory requirement. specifically it will look at:
– FS(J)L Licensing Policy – December 2010
– Outsourcing (across all sectors) and Delegation by Jersey
– Certified Funds and FSBs – May 2011

UNDERSTANDING THE NATURE OF PRINCIPLE BASED REGULATION IN JERSEY AND THE APPLICATION OF THE CODES OF PRACTICE:
12 MARCH
An overview of principles, rules and expectations. A review of the key principles such as:
– Conducting business with integrity.
– Having the highest regard for the interests of its clients.
– Organising and controlling affairs effectively for the proper performance of business activities
– Being able to demonstrate the existence of adequate risk management systems.
– Being transparent in its business arrangements.
– Maintaining, and being able to demonstrate the existence of, both adequate financial resources and adequate insurance.
– Dealing with the Commission and other authorities in Jersey in an open and co-operative manner.
– Avoiding statements that are misleading, false or deceptive.

ANTI MONEY LAUNDERING AND COMBATING TERRORIST FINANCING – AN OVERVIEW
16 APRIL
– The AML environment – international developments, laws and orders and FSC rules
– AML Policies and procedures – what is the difference and why they are important
Probability of an offence crystallising – using leading case studies
– Risk of not reporting – using real case studies
– Understanding what ML & TF is – demystifying the myths!!
– Government and other Sanction risk  (e.g. HMT, EU, OFAC etc.)
– Understanding the difference between  KYC – ID&V – CDD
– Profiling customers – what does it mean, what you need to do
– Building and using trigger events
– Summary and key messages

THE AML HANDBOOK
14 MAY
– Corporate governance
– Customer due diligence requirements
– Identification and verification of identity
– Monitoring activity and transactions
– Reporting money laundering and terrorist financing activity
– Vetting, awareness and training of employees
– Record keeping
– Existing Customers

COMPLIANCE AND GOVERNANCE IN A JERSEY REGULATED BUSINESS
18 JUNE
– An overview of the JFSC the JFSCs expectations
– Span of control
– The board and senior management – what should they be doing?
– Considering the functions of the CO, MLCO, MLRO
– Internal systems and controls
– Integrity and competence including Continuing Professional Development (CPD)
– Complaints
– Record Keeping

ENFORCEMENT, THE LAW AND THE JFSC
10 SEPTEMBER
– An overview of the process
– Supervision to enforcement
– Consideration of cases

JERSEY FINANCIAL SERVICES COMMISSION COMMENTS AND OBSERVATIONS.
15 OCTOBER
– Onsite visit reports
– Mystery shopping findings
– Dear CEO letters
– Post examination mediation schedules [PEMS]

REVISION SESSION
19 NOVEMBER
Refresher session covering the main points from the above
8 sessions

EXAM SESSION
3 DECEMBER
Complete a short examination to obtain the Jersey Certificate in Regulatory Awareness

Register