Responding to COVID-19: insight, support and guidance
These FAN workshops explored a number of key ‘hot topics’ in relation to accounting for assets, capital expenditure and financing, as well as providing an overview and update on the legislative and accounting framework within which capital activities are managed.
The series explored some of the practical application issues in respect of componentisation of assets, provided an overview of the accounting requirements for finance leases, reviewed guidance on what can and cannot be capitalised, explored the accounting issues relating to asset valuations and updated practitioners on a number of important changes impacting on the Accounting Code of Practice in relation to asset accounting.
FAN welcomed feedback from practitioners on any of these areas, and in particular requested comments from practitioners on whether any aspects of asset componentisation or the changes in Code relating to Accounting for Schools Assets and Transport Infrastructure Assets would benefit from further clarification or guidance.
The materials for the series and the answers to the exercise can be downloaded from the links below.
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