The Financial Reporting Update 2025
Registering for The Financial Reporting Update at CPD Fest 2025 couldn’t be more straightforward. We have three packages for you to choose from – 8 hours, 16 hours and 24 hours of CPD – allowing you to customise the event to your own specific needs. Once purchased, pick ‘n’ mix the topics of most interest and relevance to you from any of the sessions running across the week of CPD Fest 2025.
CPD Fest Packages:
The 12 Gifts Of CPD Fest
Over the coming weeks we are going to give you advance access to hugely valuable extracts from the note packs The CPD Fest & The Essential Advisors’ Mix.
With The 12 Gifts of CPD Fest you will get guides, financial statements, checklists, tools, tax papers, letters of engagement and reports all the way up to and including the kitchen sink!
Registration for The 12 Gifts Of CPD Fest is free, quick and straight forward and you can do so here:
Event Details:
Session 1: FRS 102 - The Key Amendments to Lessee Accounting and Revenue Recognition Under March 2024
Time: 09:00 – 10:40
Speaker: Professor Robert J Kirk – Consultant
Major revisions to leasing and revenue recognition have been incorporated into FRS 102 and revenue recognition into FRS 105. These are taking effect from the 1st January 2026. This will impact the preparation of financial statements for all non-listed companies in Ireland. Some of the changes are fundamental (particularly on leasing) and this could impact the ability of companies to meet bank covenants.
The key topics that will be covered in the session include the following:
- The incorporation of the recognition and measurement rules of IFRS 16 Leases into FRS 102
- The abolition of operating leases for lessees
- Understanding the distinction between a lease agreement and a service contract
- How to deal with a change in economic incentives on asset and liability recognition
- How to account for reassessments and modifications of existing leases
- Understanding the new 5 step approach to revenue recognition and the expanded disclosures required
By attending this session it should enable delegates to begin to implement the new rules into their financial statements and be aware of any transitional arrangements that are available in the first year of implementing the changes.
The session will be of most interest to preparers of financial statements under FRS 102 and FRS 105 as well as their auditors
The entry level subject would be at an intermediate level as delegates should have a reasonable understanding of the existing requirements in FRS 102 and 105. It also represents knowledge that all financial accountants need to know.
Session 2: IFRS - The Latest Developments in IFRS Standards 2025 including IFRS 18 and 19
Time: 11:00 – 12:40
Financial accountants need to constantly be aware of the most recent developments in financial reporting so that they can advise their clients on the likely impact of any likely changes on their financial statements. This session will cover the most recent and future major changes to IFRS.
The major changes likely to impact the current and future preparation of financial reporting under IFRS will include:
- IFRS 18 Presentation and Disclosure in Financial Statements (April 2024)
- IFRS 19 Subsidiaries without Public Accountability: Disclosure (May 2024)
- Exposure Draft: Provisions – Targeted improvements to IAS 37 (Nov 2024)
- Exposure Draft: Climate-related and Other Uncertainties in the Financial Statements (July 2024)
- Exposure Draft: Business Combinations—Disclosures, Goodwill and Impairment (March 2024)
- Exposure Draft: Contracts for Renewable Electricity (May 2024)
- In addition, a brief coverage of IAASA’s financial reporting decisions (2024 -25) and its key observations for December 2025 reporting will be covered in the session
By attending this session it should enable delegates to be ahead of the pack in understanding the likely impact the changes will have in preparing their financial statements under the proposed new rules
The session will be of most interest to preparers of financial statements under IFRS as well as their auditors.
The entry level subject would be at an intermediate level as delegates will be assumed to have a reasonable knowledge of the content of existing IFRS. It also represents knowledge that all financial accountants need to know.
Session 3: FRS 102 Other changes Including FRED 87
Time: 13:40 – 15:20
Speaker: Professor Robert J Kirk – Consultant
This session is a follow on from Parts 1 and 2 and will cover most of the remaining major amendments to FRS 102 and 105. This will impact the preparation of financial statements for all non-listed companies in Ireland. Some of the changes are material particularly the changes to business combinations, uncertain tax treatment and supplier finance arrangements and how they will be recognised and disclosed in the financial statements
Rober Kirk will follow the following topics during this webinar:
- Tying in IFRS 3 Business Combinations into FRS 102
- Incorporating IFRIC 23 into income tax section
- Disclosure for supplier finance arrangements
- Explain conflict between revised section 2 and provisions/intangible assets
- Accounting for R&D expenditure credits – tax or grant?
- Changes to FRS 102 Section 1 exemptions
- Changes to FRS 105
- Changes to UK reporting for small entities
By attending this session, it will be easier for delegates to understand how this important new topic can be implemented in practice.
The session will be of most interest to preparers of financial statements under FRS 102 as the amendments will undoubtedly have a significant impact on an entity’s financial statements.
The entry level subject would be at an intermediate level as delegates should have a reasonable understanding of the existing requirements in FRS 102 and 105. It also represents knowledge that all financial accountants need to know.
Session 4: Sustainability Reporting Updated
Time: 15:40 – 17:20
Sustainability reporting is changing from day to day so it is important that accountants from all sectors and from small to very large companies keep abreast of the latest developments. This session will take delegates through from the very basic concepts of climate change through to the international and European sustainability standards and the latest EC Omnibus announced in February 2025.
Robert Kirk will cover the following topics during this webinar:
- Climate essentials for accountants (August 2023)
- The CSRD and the TCFD pillars and disclosures
- IFRS S1 and S2 and draft European Sustainability Reporting Standards
- EC Omnibus February 2025
- EFRAG Voluntary Sustainability Reporting Standard for non-listed SMEs
- IFRS Sustainability – Education Material and FRS 102 Factsheet
By attending this session it will be easier for delegates to understand where to access the information on sustainability and to be aware of the current position as sustainability rapidly becomes a key reporting issue.
The session will be of most interest to preparers of financial statements caught by the CSRD it but also be useful for those preparing FRS 102 as the sustainability standards undoubtedly will be implemented in a simplified form for SMEs.
The entry level subject would be at a foundation level as delegates will be assumed to have little or only basic knowledge of the impact of ESG reporting. It also represents knowledge that all financial accountants need to know.
CPD Course Speaker
Professor Robert J Kirk - Consultant
Robert qualified in first place in 1975 as an Irish Chartered Accountant after graduating in Economics from Queens University. He trained in practice with Price Waterhouse and later worked in industry with a subsidiary of Shell (UK). His teaching career started with Business and Accounting Training (now Griffith College) in Dublin where he taught mainly on the professional examination courses for ICAI, CPA, CIMA and ACCA in Belfast and Dublin. In 1984 he was appointed a full time lecturer in Queens University and later moved to Ulster University in 1992 as a Senior Lecturer. In 1994 he was appointed to the Chair in Financial Reporting at Ulster.
Robert specialises in the teaching of and research into the development of accounting standards in the United Kingdom. He has published 18 books and numerous articles in both academic and professional journals. His latest publication (co authored with Stephen McNamee) is the second edition of ‘A practical guide to UK and Irish Gaap’ (May 2020) (552pp) published by Chartered Accountants Ireland.
He has lectured extensively within Ireland and Great Britain on the subject of accounting standards to such diverse organisations as British Gas Plc, The Post Office, British Aerospace Plc, East Midlands Electricity, The Prison Service, the Department of Enterprise and Employment, Sheffield Teaching Hospital, NATO, Royal Bank of Scotland, Bank of Ireland, John Laing Plc, Barclays Bank, Deloitte & Touche (Dublin) and Reed International Plc and has become one of the main CPD speakers in that field over the last fifteen years for The Institute of Chartered Accountants in Ireland (ICAI), The Chartered Institute of Management Accountants (CIMA) and the Institute of Certified Public Accountants in Ireland (CPA). He also lectured on several occasions for The Chartered Institute of Public and Finance Accountants (CIPFA) and The Chartered Association of Certified Accountants (ACCA).
In the last few years he has lectured on international financial reporting standards to major companies in Cyprus, United States, Bahrain, South Africa, Zambia and Ghana.
The Financial Reporting Update 2025 is brought to you in association with:
