CCH Update for the Accountant in Industry & Commerce 2017

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Two-day CPD training at a location near you

Course content

Presentations will be led by expert speakers covering a number of thought-provoking and insightful topics, including Brexit, International Finance Reporting Standards (IFRS), cybercrime, and wider business updates including employment law. 

Introductory overview - A global economic outlook
A pertinent economic starting point and backdrop to the current unprecedented period of change.

1. Financial reporting 2017 - New UK GAAP: one year on and IFRS: the future of revenue
Ralph Tiffin, Paul Gee, Julia Bowyer and Anna Cowley

Given these uncertain times in the economy and ongoing regulator focus on the quality of financial reporting, this session will update you on the latest 2017 financial reporting developments including  -

  • What the first FRS 102 accounts look like, enabling you to see evolving market practice.
  • Key UK GAAP accounting issues and areas of future development, including investment properties and bringing in new IFRSs.
  • Progress and disclosures to date on IFRS 15 Revenue, along with worked examples.
  • A focus on charities, smalls and micros including common reasons for Companies House accounts rejections.
  • Update on Corporate Governance and audit in light of recent changes under EU audit reform.

2. Company and Business Law Update
Louise Dunford

This update covers all the key developments in company and business law over the previous 12 months, with content and case studies reflecting the most recent developments prior to each course date throughout the year.

The session is focused on the practical application of the law for businesses of various types and sizes.

  • How are the reforms to company law working out – in particular, what have we learnt about the PSC Register?
  • Company law case update – important decisions over the last 12 months.
  • A bad hair day – Rush Hair Ltd and recent cases on restrictive covenants.
  • Where we are on data protection – recent developments and new case law on quantifying damages for data breaches.
  • Useful general guidance on - Providing personal guarantees; Recovering bad debts; Working with non-family directors.
  • Contract Law Update -
    - Battle of the form.
    - What value do anti-variation clauses have in a contract?
    - Using a previous contract version to interpret a more recent one – can you?
    - Interim payments and project overrun – how do you deal with this?
    - Concurrent delay – ‘it’s your fault!’… ‘No it’s your fault!’
    - The concept of good faith & ‘reasonable endeavours’ in contract law.
    - Governing law, unfair terms – the European Court v Amazon.

3. Effective management reporting and analysis
Kevin Bounds

This session will explain how management reporting fits into the overall responsibilities of finance and will examine, with the help of a number of surveys, the key attributes of effective management reporting -

  • Data quality
  • Appropriate technology
  • Choosing the right key performance indicators
  • Which operating model?
  • Insightful analysis and communication

Practical guidance will be given on how to address these areas with a case study and a quiz. The outcome of the session will be practical advice on how to design or upgrade your management reporting and analysis systems and methods to enable you to add real value to your organisation and be a key part of the strategy delivery.

4. Brexit, Budgets and BEPS: a toxic tax mix or a refreshed business-friendly tax regime?
Chris Burns

2017 is likely to be a whirlwind year of tax changes. Brexit negotiations, implementation of BEPS and two Budgets will all trigger a plethora of changes that your business will need to keep abreast of and respond to. Throw into the mix a new Chancellor looking to make his mark, and a raft of increasingly stringent anti-avoidance measures, and we have a combination of circumstances not seen together in living memory.

Chris Burns will make sense of it all as the story unfolds during the year. His session is designed to help you understand these changes, how they impact on your business and what you must do to respond to them.

As well as an essential review of changes to Corporation Tax, Employment Taxes and Value Added Tax, Chris will -

  • Help you to identify legitimate tax planning opportunities arising from changes to the tax regime.
  • Guide you through the anti-avoidance mine field - what is legitimate tax planning and what is “unacceptable avoidance?”
  • Look forward to measures that are on the horizon and consider what you should be doing about them before it is too late.
  • Chris’s talk will be interspersed with the usual entertaining anecdotes from recent case law developments, and there will be opportunities to debate and ask questions.

5. Employment Law Update including a 2017 focus on Attendance and Absence Management 
Toni Trevett

Toni will be combining her annual employment law update with a special focus on attendance and absence – issues that every employer and line manager will have experienced at some point.

In the first section, Toni takes you through some of the recent and pending employment law changes.

Toni’s second session looks at attendance and absence management in the workplace. Not only will you be given an overview of the legal considerations in this area but you will also be able to focus on the practicalities when dealing with staff and and the procedural considerations. This section of the topic will be broken down into attendance, short term ill health, long term ill health and disability considerations. 

6. Cybercrime – what every accountant needs to know! 
Stephen Hill

As hackers up their game and attacks become more common and sophisticated, Dr Stephen Hill will assess how accountants can protect their financial data from cyber-attack.

Digital technology continues to transform and disrupt the world of business, exposing organisations to both opportunities and threats.

Cyber threats continue to climb, and business preparation is not keeping pace as highlighted by PwC's 2016 'Economic Crime Survey' which shows cybercrime as the second most reported economic crime worldwide affecting 32% of organisations.

With cyber-attacks costing UK businesses around £34bn a year (Centre for Economics and Business Research and Veracode), companies are still not adequately prepared for or even understand the risks faced.

Today’s increasingly sophisticated corporate criminals are able to penetrate a company’s databases in a variety of ways, using viruses, malware, stolen devices, phishing or even insiders with their own agendas.  

The ICAEW recently highlighted that '...criminals have always tried to find the easiest marks with the richest rewards.' Finance departments have financial data with high value that can be sold on the dark web for secondary profit. There is also high potential for successful ransomware extortion. Nearly 40% of businesses were hit by ransomeware attacks in 2016, with more than a third of them losing revenue and 20% forced to shut down according to a report from Malwarebytes.

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