Pass Your SBR ACCA Exams with Tom Clendon

In this 2nd episode on this topic I discuss with Ben Wilson, the ACCA AAA expert about the latest developments in the regulation relating to reporting on sustainability and climate change reporting. This is a topical issue that will not go away - so it is great to get another take on it!

In this episode I discuss accounting for provisions - which is at present regulated by IAS37 Provisions, Contingent Liabilities and Contingent Assets. In addition to explaining the basics of the standard I discuss why the standard is said to conflict with the current conceptual framework and what is meant by the "all or nothing approach" adopted by the standard. The areas of judgment are highlighted and the application of the standard is illustrated through two specific examples. An action packed 12 minutes!  

Sustainability reporting is a current issue that will be examined in SBR in forthcoming exams. Its important to be able to understand why accountants should report on these issues and the debate and developments around the form of such reports. 

I recorded a second episode on this topic - with Ben Wilson - where we discussed the very latest developments in regulation ahead of COP26. So please also check out Part 2 Sustainability and climate change reporting.

IFRS9 Financial Instruments is a massive standard. What I am doing in this episode is explaining how financial assets (investments in shares and debentures) are classified and accounted for. I hope you enjoy the episode. If you have a topic that you want covered please let me know.

Bit coins! There is no accounting standard on this issue. So it is important that we understand the arguments and alternatives around this topic as it could be tested in a number of different ways. 

This is a long episode! Listen as I explain the basic principles to accounting for pensions. It starts with understanding the difference between defined contribution schemes and defined benefit schemes! Most of the podcast is taken up with explaining how defined benefit schemes are accounted for in the statement of financial position, the profit and loss account, the cash flow statement and what appears in other comprehensive income. Dive in. Enjoy. (You can always listen to it twice!)

This topic was suggested to me by Aaditya Chaturevedi via my Linkedin account. It is a good one - because in explaining how the guarantor accounts for the giving of a guarantee on another party's loan I name checked five different accounting standards! I wonder if you can guess what they are before you start to listen! In the podcast I use the example of an entity giving a guarantee relating to a $100m 5 year loan taken out by another party. Happy listening! Please like and follow the podcast

In this episode I critique the accounting treatment of goodwill as set out in IFRS3 Business Combinations. I set out four criticisms of the standard including discussing whether purchased goodwill should be recognised as an asset, and the arguments around why goodwill should systematically amortised and so not subject to an annual impairment review. 

This episode explains how to debit and credit. But is this relevant to SBR? In this episode I quickly address this question (strictly no - but it does you no harm to understand this secret language). I then go on to explain and apply the rules of double entry bookkeeping. The podcast ends with half a dozen of transactions being distilled down in debits and credits. So if you want to learn double entry or just want a quick refresher then this is the episode for you !

Being able to identify and explain when an investment is a subsidiary and when it is an associate is regularly examined. In this podcast the terms in the definition of both a subsidiary and an associate are discussed. It will be explained how it is possible to own 40% of the shares of a company and yet still have control and why creative accountants favour certain investments being classified as associates and not subsidiaries.