This month's exclusive Accountancy Daily CPD module focuses on detailed accounting aspects of the Covid-19 related grants, reliefs and loans that have been made available to businesses, including CBILS and bounce back loans
The vast majority of businesses have received Covid-19-related grants, reliefs or loans in some form or other and these will all have to be recorded correctly in the financial statements. Some reporting entities will also have to make additional disclosures in their financial statements depending on where their accounting reference date falls in relation to the pandemic.
For example, a business with a 30 April 2020 year end is likely to include some going concern disclosures in their financial statements or, at the very least, some mention of the impact of the pandemic.
By completing this module on accounting for Loan and Grants, you will be able to:
- understand the general principles governing the accounting for Covid-19 grants;
- account for grants, reliefs and concessions correctly and understand the protocol involved;
- understand how to correctly account for a CBILS and Bounce Back loan correctly and how to recognise the related grants; and
- identify which disclosures are needed depending on which reporting framework the entity has adopted.
This CPD module takes 20 minutes to complete and is followed by a short quiz to ensure thorough learning. There are also detailed course notes to ensure a full learning experience. Any CPD learning is also automatically added to Your CPD Tracker.
The CPD course lecturer is Steve Collings FMAAT FCCA, audit and technical director at Leavitt Walmsley Associates, an external expert at Croner-i
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