ACCA Tom Clendon's SBR podcast

Provisions and cash flow and deferred tax and fair value adjustments - lets consider how these standards interact as IFRS are tested in mini case study situations ie in an applied and holistic way!

This episode is slighty different. It is relevant if you have failed any ACCA exam and gives advice and pratical strategies on how to bounce back. I was commissioned by ACCA to write and deliver this edition.

Premiership football clubs face many accounting issues. Are their players recognised as assets? How to account for naming rights to their staduim? What about the borrowing costs on loans taken out to construct a new staduim? What is the accounting issue when a player gets a serious injury?

Let me answer the seven most frequently asked questions about the SBR exam... including how to earn professional marks (Q2) how to account for derivatives (Q6) but my favourite is the last one!

It is all about goodwill. Such a regularly examined number. I hope you enjoy this exam episode.

I was recently a guest on another podcast, and I thought I would share the interview. The first question I was asked related to how students coming up from skills should prepare for the step up to the professional stage. I was also asked about what comes up in the exam etc. This edition of the podcast is 30 minutes long. In the final section I get asked some personal questions!

Ten minutes on the IASB's Conceptual Framework. But not for beginners. It gets pretty heavy. In this episode I am explain some apparent inconsistencies between the framework and the accounting required by IAS 21 Foreign Currency and IAS 12 Deferred tax.

I hope you enjoy the episode.

Revision is key to passing exams. But what has Aesop's fables got to do with it? There are no short cuts - but you can learn to revise in a smart way.

The changes explained. Whats app me for a link to free sample of material.

UK 07725 350793 and Overseas +44 7725 350793

The SBR exam will have an increasing emphasis on "Investor Focus". In this edition of the podcast Tom explains what is meant by investor focus and what investors really want to know (and it is not just profitability). Of course being exam focussed, Tom concludes by discussing a practical accounting situation with an investor focus.

The SBR examining team have confirmed that from September 2023 investor focus will be examined at Q4. It should be noted that the SBR Sept 23 - June 24 examinable documents have no exposure drafts to test. Thus there is an increasing emphasis on "Investor Focus"

It was great to chat with Paula who teaches Advanced Tax for the Irish exam. She certainly has a passion and is an authority on her subject.

Recycling. Lets me take ten minutes of your life to explain what this is all about. Mentioned in this episode are the standards PPE, Foreign Currency, Pensions and even hedging. But I try and keep it simple. I hope you enjoy the episode from the PQ award winning podcast!

Yes IAS 16 PPE does come up at SBR! So check out this ten minute episode! Initial recognition. Subsequent expenditure. Depreciation. Recycling. All get explained. Please like and subscribe my podcast. Tom Clendon

So lets keep it simple. Let me make sure you all understand why the finance cost on a financial liability will not be the same as the interest paid!

The principle of accounting for liabilities at amortised cost goes to the heart of IFRS 9 Financial Instruments.

Short and sweet!

Changes are afoot as to the way group accounts will be tested at SBR. These changes will apply from September 2023 onwards. 

In this episode I explain what those changes are - and how you can prepare for them. 

In this episode I am joined by Lucy Moore from ACCA. We talk about the importance of doing mock exams !  

In this episode I am joined by James Wright as we chew the fat over which optional exams are the best for you. Two heads are better than one. It is best to make an informed choice. And listening to this podcast will help!

If you have the choice as to whether to sit your exams in the comfort of your own home - or at an exam centre - then it should be an informed choice that works for you. It is important to make an informed choice. So I am joined by my colleague Ben Wilson to discuss this. We reveal our personal preferences and the results  of a LinkedIn poll of nearly 1,000 students.  

I caught up with my student Ollie and chatted with him about his study tips. In addition he talks about about the topic he found the most difficult and how useful he found whats app support.  

Goodwill. It is gets examined a lot. Why does it arise? How do you calculate and account for it? All these questions are answered and more! This episode is a useful recap of the basics. Suitable for both FR and SBR - and in fact anyone wanting to understand the accounting for goodwill. I hope you enjoy listening to it. A ten minute technical blast.

If you are planning on sitting the ACCA optional exam ATAX then this edition is aimed at you. Aileen Edgar is an expert online lecturer. I asked her about the difference between TX at skills and ATAX at strategic professional stage -as well as the introduction of 20 professional marks at ATAX, and so much more.  You might be surprised by her some of her answers !

At SBR standards are often examined in an integrated way, in a way that is applied to a particular situation where more than one accounting standard comes into play. Often students learn their standards in isolation but they are treated like ingredients when cooking up an SBR answer! In this episode I discuss how when a subsidiary is acquired the fair value exercise impacts on the measurement and recognition and liabilities. So fair values, deferred tax, provisions and intangibles are get a shout out. A good episode for revision and for understanding how SBR differs from FR. Enjoy. 

Results are out! What next...Maybe you have passed SBR, or need to resit it, or are coming to SBR for the first time!

Let me share some advice and thoughts on your situation. Of course by all means reach out to me for a 1-2-1 consultation by sending me a whats app on 07725 350793 (+44 7725 350793)

Accounting for provisions are discussed! As indeed is how they are similar to being pregnant! I am joined in this episode by my friend and colleague Sarah Ardiles - someone who shares my passion for all things IFRS! No prior knowledge is assumed, but I reckon there is stuff to be learnt from ear wigging on our 10 minute chat.  

It is the day after the SBR exam. Here is my hot review. Compiled having listened to my students! Also published on my YouTube channel. 

There is an UK and an Irish variant of the SBR exam. These variants are for those students who want a practicing certificate. The extra content that these variants test is FRS102 (UK GAAP) and how this varies from International GAAP.

In this episode I chat all things FRS102 with Steve Collins. To put it simply, Steve Collins is the country's leading authority on FRS102. He is MR UK GAAP.

If you are doing the UK / Irish variant then this is an important episode for you! We talk through the differences between IAS GAAP and UK GAAP in respect of deferred tax; leasing and group accounts.

The episode is 20 minutes long (my longest podcast). If you are doing the UK or Irish variant then every minute will be precious!

If you want a course or support to pass SBR, then please reach out to me. Whats app. +44 7725 350793 (07725 350793)

In this episode I take the accounting standard IFRS 2 Share based payments and explore how it interacts with two other standards; IAS 7 Cash flow statements and IAS 12 Income Taxes (deferred tax). This is not for beginners. Those listeners with a prior knowledge of all three of these standards will get the most out of this episode. 

The Advanced Audit and Assurance exam is an optional exam at ACCA's strategical professional level. In this episode I chat with colleague Ben Wilson and he explains why he thinks you should chose to sit this exam! 

In this episode I take the topic of deferred tax and explore how it interacts with two different accounting standards (IAS 16 PPE and IFRS 16 Leases). I also touch on how IAS 12 appears to conflict with the conceptual framework! This episode is not for beginners! Make sure you listen to part 1 first!

After explaining the difference between accounting policies and accounting estimates, I then go on to apply this standard to a number of different practical situations.

To pass the final level professional accounting exams, you not only need to know your stuff but also how to apply it in new situations. In this episode I present you with a challenge. I wonder if you get to the conclusion before I do and understand my reasoning and answer first time!

Yes this is a current issue at SBR! First we need to understand the nature of an Initial Coin Offering (ICO) so that if this comes up in the exam we can discuss the accounting treatment. My explanation of ICO's includes references to intangibles assets, impairment and crypto currencies! I hope you enjoy the episode.

This is a "small" accounting standard - and one that many be already familiar with but it is always good to be reminded of the basics. After setting the scene with explaining the definitions, I take you through four separate examples to make sure we all have an understanding as to how this accounting standard is applied. Please like and subscribe to my podcast!

In this edition of the podcast I am talking about two elements that make up the financial statements "ASSETS" and "LIABILITIES". I will be discussing their definitions and recognition criteria given to them in the framework. I will point out how this can differ from particular accounting standards.

In this episode I explain the nature of the IASB's Conceptual Framework for Financial Reporting. The importance of useful information is discussed - and with plenty of examples! It is only ten minutes long. Short and sharp. 

ACCA allow many of you a choice as to where to sit your ACCA exams - either in an exam centre on their computer OR remotely (meaning that you sit the exam at home on your own computer).

In this episode I discuss this choice with my colleague Ben Wilson. We draw on the experiences of our students to give you advice so that you can make an informed decision.

As always if you want to chat about this - or any aspect of studying ACCA and SBR - just reach out to me on whats app 07725 350793 / + 44 7725 350793

IFRS 2 is sometimes thought of as a tricky standard. In this edition of the podcast we explore the nature of equity settled share based payments that are issued to staff (basically options). By understanding why they are issued will help us understand the required accounting treatment. Towards the end of the podcast I explain (briefly) the interaction of this standard with the preparation of a cash flow statement using the indirect method and the deferred tax implications! I hope you enjoy the episode.

Hear from a student who got the top mark in SBR in the whole of her country. She shares her study tips and approach to online learning. I think you will find it very interesting.

The ACCA SBR and AAA exams come with a choice, a decision that you have to make. International exam or UK variant. For some of you INT will be the right path - and for others UK is the best choice. In this brief podcast I am joined by AAA expert tutor Ben Wilson and we explain on what basis you should decide. Still not sure or just want a chat - then reach out to me via whats app 07725 350793 (+44 7725 350793)

In this episode Tom Clendon talks about integrated reporting as this is a topic that has been, and will be, examined at SBR. Having explained what an Integrated Report is; the podcast then goes on to explain its benefits (why businesses produce it), the contents of a typical Integrated Report and concludes with some reflections about its role in financial reporting. 

If you want help passing SBR then please reach out to me. My website is www.tomclendon.co.uk 

In this episode I explain the definition of an investment property and how it is accounted for. We also consider several issues including what happens when an individual property is partly occupied and partly rented out as well as accounting in the group accounts.

At SBR we get involved in explaining how the financial statements of an overseas subsidiary are translated in the presentational currency of the group as part of the consolidation process. In this episode I set out the process and explain how the group exchange difference arises and how it is accounted! All good stuff. 

There is a separate episode which just deals with foreign currency transactions and balances from the perspective of the individual company.

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.