Our Q&A addresses some of the practical challenges of completing the transition of financial statements to Further and Higher Education SORP 2015 (FRS 102).

In this 30-minute session, our panel of technical experts answered questions around some of the practical challenges that the sector is experiencing under the new UK GAAP. The panel comprised Tom Davies, Director, Education; Omadevi Jani, education specialist; and Jon Wallis, Senior Manager, Financial Reporting Advisory Group.

Topics for discussion included questions around:

  • Holiday pay accrual
  • Pensions – Universities Superannuation Scheme (USS), Local Government Pension Scheme (LGPS), Teachers' Pension Scheme (TPS)
  • Application of deemed costs – land and buildings
  • Component accounting
  • Tips for education audit season

If you would like more information about any of the issues discussed in the webinar, please contact: Emma Hollington on +44 (0)20 7728 2272skype logo or email emma.c.hollington@uk.gt.com