KnowledgeHUB Training Series
Micheal O'Neill
OmniPro Group
John Murphy
OmniPro Tax & Legal
OmniPro Company Secretarial
Garret Wynne
OmniPro Practice Support
Join John Murphy & Garret Wynne as they answer 9 of the most common and problematic questions that have crossed the OmniPro technical help desk this month.
Registration is free, quick and straight-forward. Register now for instant access to the full Training Series.
KnowledgeHUB Training Series
Every week the technical team field a massive number of queries from accountants across the country. Whether they are out on site conducting firm reviews or manning the technical help desk back in OmniPro HQ, day in, day out, they battle shoulder-to-shoulder in the trenches with accountants on the front line just like you.
Having travelled the length and breadth of the country during our nationwide CPD tour, this September, many accountants expressed how overwhelmed they felt with all the recent changes and the fact that they never seem to be able to catch a breath between the never ending stream of client deadlines.
When we tracked the queries crossing the technical help desk and the conversations we were having with accountants at our CPD events some issues kept coming up again and again. That gave us the idea for the KnowledgeHUB Webinar Series.
This rapid-fire, incisive and enlightening webinar series is designed to solve some of the most common and problematic
issues facing accountants, right across the board in areas such as Financial Reporting, Audit, Company Law, Tax, Corporate Finance, AML and Ethics.
This KnowledgeHUB Webinar series is for you if you want to:
- Get up-to-speed with the latest challenges facing your clients and your firm
- Find practical solutions to client queries that are sitting on your desk unresolved
- Be prepared and fully briefed for the next client question that comes out of the blue and know what your next steps should be
- Turn lost, unchargable, query research hours into profitable and enjoyable client time
Module 1
Issues Tackled
- A query on the Company Law and Tax considerations of selling a business
- A query on consolidated financial statements including the annual returns
- A query on the exit of a longstanding shareholder from a business
*full details below
Module 2
Issues Tackled
- A query on the implementation of the Ethical Standards
- A query on capitalised development costs
- A query on the implementation of best practice AML procedures
*full details below
Module 3
Issues Tackled
- A query on the valuation of a business
- A query on the transfer of shares to family members
- A query on the accounting treatment of bank debt restructuring under FRS 102
*full details below
In addition to the solution to each query we will also provide you with the following downloads:
- Restructuring Co. Sec. Checklist and Tax Requirements
- Consolidated Financial Statements Checklist
- Share Buyback Checklist
- The New IAASA Ethical Standards Quick Guide
- Capitalisation of Intangible Assets Query Written Response
- Anti-Money Laundering Checklist
- Company Valuation - Client Questionnaire Checklist
-
Top Tax Reliefs Overview Quick Guide
-
S. 343 Quick Guide
Queries Being Covered
Module 1 Topics
Query 1 - I have a client who is considering an offer for the purchase of their business. The company has certain non-trade assets. What can they do to make the company more saleable? What Company Law and Tax issues need to be considered?
Query 2a - Based on my clients' group structure, do I need to prepare consolidated financial statements and how do I assess the consolidation size thresholds? If consolidation is required then what information needs to be filed with the Annual Return of the subsidiary or the parent?
Query 2b - I have a new non-filing structure which prevents filing of accounts with the CRO, what do I need to consider from a consolidation perspective?
Query 2c - What does the equity method of accounting entail?
Query 3 - My client is considering an exit from a business with significant reserves and a strong cash position. They have been a shareholder and full-time director/secretary since the company's incorporation 20 years ago. The company valuation is €600,000. What are their options?
Module 2 Topics
Query 4a - Long Association - I have acted as auditor for over 10 years, do I now need an independent review of the audit file to continue?
Query 4b - Non-Audit Services – I provide non-audit services to my audit clients - what safeguards do I need to continue?
Query 4c - Fee Dependency – The fees from my largest client are increasing annually - at what point do I have an issue?
Query 5 - My client has capitalised development costs incurred in the year - how do I audit this and can the company capitalise these costs?
Query 6 - I have heard that I need to look at my AML documentation annually – what does this entail for me? What do I need to do?
Module 3 Topics
Query 7 - A manufacturing client has requested a company valuation. A 40% shareholder wants to exit. What do I need to consider when valuing this company? What is the best format for the valuation? What is Revenue's current standing on valuations?
Query 8 - My client incorporated his business from a sole trader to a company two years ago. He is now thinking of transferring the shares to his children. Is there anything he should be made aware of about future tax implications?
Query 9 - I have a client who has restructured their debt with the bank. It has been split into three tranches, each with different terms and possible future forgiveness if certain conditions are complied with. How should this be accounted for under FRS 102?
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