LLP Accounts & the LLP SORP - A Toolkit for Auditors

Introduction

Although LLPs have been around for quite a while now, they are still something of a challenge for many accountants and auditors.

There are some very specific accounting issues to deal with that are addressed in the LLP SORP and the presentation of the accounts is also very different from usual. .

This virtual classroom session is a highly practical summary of all the important issues with examples to illustrate how to best meet the regulatory requirements. .

What You Will Learn

This live and interactive course will cover the following: .

• Summary of key requirements of Companies Act 2006 together with FRS 102, FRS 102 (1a) and FRS 105
• Application and presentation points addressed by LLP SORP
• Members profit shares and remaining balances
• Pensions paid to former members
• Key presentation points and notes to the accounts
• Transition to an LLP
• Latest developments that will affect LLP accounting
• SORP version 2023 with changes effective from 1 January 2024
• Impact of changes proposed for UKGAAP - set out in FRED 82
• Other important issues
• Revenue recognition
• Tax charges

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.