Accounting for Limited Liability Partnerships (including the new LLP SORP)
SPECIAL OFFER PRICE FOR ICAS MEMBERS: £241 + VAT
Non-member price: £315 + VAT
Online Live, 6 November 2020
What you will learn
Partnerships are not required to prepare their accounts under full UK accounting standards and few do this voluntarily, choosing instead to adopt accounting policies that are straightforward to administer or felt to better achieve equity between partners.
On the other hand, an LLP is required by law to prepare full statutory accounts in accordance with accounting standards, and, unless the LLP is small enough to be exempt, these must be subject to an audit.
We also cover the revised LLP Statement of Recommended Practice (SORP) issued in July 2014, further to the development of FRS 102.
Who should attend
This course will prove useful to those considering the switch from partnership to LLP, those new to accounting for LLPs or existing employees looking to refresh or consolidate their knowledge. Auditors of LLPs would also benefit from attending.
- The law and practice of LLPs
- General accounting requirements and the new LLP SORP
- The contents of the annual report and financial statements
- Members' remuneration and interests
- Retirement benefits
- Revenue recognition
- Other relevant accounting standards
- The transition from partnership to LLP
BPP | Tel: 0330 060 3303 | Email: email@example.com
Note: A similar course is available for those delegates based in Scotland.
LLP accounts - current issues and refresher