Accounting for provisions!
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!
August 30, 2021
Sustainability and climate change reporting
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.
August 21, 2021
Financial Assets and how to account for them! (another episode on IFRS9 Financial Instruments)
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.
July 9, 2021
Current issues - crypto currencies! No IFRS - so how to account for them?
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.
June 6, 2021
All about pensions (IAS19 Employee Benefits)
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!)
May 16, 2021
How to account for financial guarantees!
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
May 11, 2021
Current issues - Goodwill and IFRS3 Business Combinations
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.
April 22, 2021
Lets talk debits and credits!
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 !
April 6, 2021
All about the difference between a subsidiary and an associate!
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.
March 21, 2021
Tom talks APM with Geoff Cordwell
Advanced Performance Management is one of the optional exams at the Strategic Professional stage. It is also Geoff's passion. In this episode he shares his enthusiasm for this exam and why he thinks you should choose to do this option.
March 8, 2021
All about Ethics (Q2 of the SBR exam)
Ethics. It will be there in the exam - so listening to this episode is essential for every SBR student. I talk about about how to gain those professional marks as well. Enjoy !
February 25, 2021
All about accounting for derivatives (IFRS9 Financial Instruments)
The accounting for derivatives is tricky! But my objective here is to make it simple enough for you to understand. I explain what a derivative contract actually is - and how to account for them. So that means addressing the measurement issue (cost or value), why we would be entering into these contracts (i.e. what is hedge accounting - fair value and cash flow) and how we present the gains or loss arising (in PL or OCI). I suspect that some of you may enjoy this one so much that it will be worth a second listen!
February 18, 2021
It is all about Alternative Performance Measures (APMs)
APMs have been and will be examined again in SBR. You need to know what they are, why they might be useful and how they are regulated. I am also going to delve into the meaning of EBITDA.
January 30, 2021
Remote exams - George's experience
George sat his ACCA SBR exam in December 2020 as a remote exam. In this short podcast he recounts his experience. He also has some practical advise for everyone who is taking ACCA exams remotely.
January 21, 2021
All about IFRS for SMEs
OK - so the IFRS for SME's is not the most exciting of topics - but it is on the syllabus! This short podcast will explain how an SME is defined, discuss whether or not it is a good idea to have two regulatory accounting systems, explain what the main differences really are and how this all might get examined at SBR!
January 7, 2021
In conversation with Sunil Bhandari AFM lecturer
Are you thinking about selecting AFM as one of your optional exams at the strategic professional stage? Then have a listen to this podcast! Sunil starts by introducing himself and what makes him tick. Of course this involves Manchester United. But Sunil goes on to talk with passion about AFM and about the impact on this exam of the ACCA moving to CBE. He explains why he thinks you should do this exam and the importance of articles.
December 23, 2020
In conversation with Sean Purcell about SBL
Sean Purcell is an ACCA guru for SBL. He teaches SBL online with FME. Here he talks all things SBL.
December 22, 2020
Tips on exam technique - how to answer SBR questions the smart way
In this episode I explore how you should go about answering SBR exam questions in a way that will earn you the marks! I talk about your exam strategy and what to do the day before the exam.
December 3, 2020
All about IFRS16 Leases
IFRS16 introduced a new approach for lessees to account for lease contracts. Firmly routed in the IASB's conceptual framework this standard takes the approach of recognising right of use assets on the statement of financial position as well as the obligations to make the lease payments.
November 27, 2020
Covid 19 - 15 minutes on the accounting implications
Covid 19 is an issue for accountants. It will therefore be examined at some stage in SBR. Here I spend 15 minutes running through some of the impacts on accounting. Amongst other things I touch on Integrated Reporting, the implications for deferred tax and how to account for government grants. I hope you enjoy the podcast.
November 20, 2020
All about IAS 16 PPE - depreciation and revaluations
What is depreciation? What happens when an item of PPE is revalued? How does revaluation impact on the stakeholder's view of the financial statements. And where does the Framework and useful information fit in with all this! The podcast answers all these questions and more!
November 3, 2020
In conversation with James Wright - ACCA member, lecturer and youtuber
James Wright is an ACCA member and lecturer. He runs a youtube channel dedicated to helping out ACCA students. Here we talk about the step up from being a university student to studying the ACCA strategic professional exams.
October 30, 2020
In conversation with Maz Islam - How to succeed at SBR
I caught up with Maz - he passed the SBR September 2020 exam on CBE. He reflects on class room learning and online learning; how he prepared for the exam and he shares his own study tips.
October 28, 2020
All about OCI and OCE - what is the difference?
In this episode I explain what is meant by OCI and OCE and how they are interlinked but different. This is great episode to listen to at the start of your SBR studies. Understand this from the start and life is sweeter - but also to listen to again on revision as it does cut across the whole SBR syllabi.
October 27, 2020
In conversation with Cecilia Tandi, current ACCA student and future member
I chat with Cecilia, a Financial Analyst at Legal & General about why she chose ACCA, what inspires her and her study tips!
October 23, 2020
All about IAS21 Foreign Currency - the individual company stage
The ACCA SBR exam often tests the principles (and numbers) of foreign currency transactions etc. Enjoy!
October 15, 2020
All about IFRS13 Fair Value - the definition explained and then some more, by Tom Clendon SBR online lecturer
IFRS13 Fair Value Measurement is a key standard for the ACCA SBR exam because so many other standards require or give the option of measuring assets (or liabilities) at fair value.
October 11, 2020
All about - IAS36 Impairment
All about IAS36 Impairment - understanding the basics and talking through the impact on the cash flow statement and deferred tax, by Tom Clendon SBR online lecturer
October 9, 2020
All about the SBR exam
Tom Clendon introduces you to the SBR exam - its structure, what comes up and how topics are examined.
October 8, 2020
IAS12 Income Taxes - the way, the how and the basic principles of accounting for deferred tax
Tom Clendon, SBR online lecturer explains why and how deferred tax is accounted for.
October 7, 2020
Tom Clendon interviewed by James Perry
In October 2020 Tom was interviewed and asked about his experiences as an ACCA tutor
October 6, 2020