It’s been a busy few years for LLPs, with three SORPS being published in quick succession (2014, 2017 and 2018). This seminar will navigate you through all the changes and highlight common problem areas faced by accountants and auditors working acting for clients within this sector and how these are addressed.  Content will include:

• The changing face of the LLP SORP and what this means in practice for the accounts of small and micro-sized LLPs;
• Filing small and micro LLP financial statements with the Registrar – key tips and traps;
• The form and content of financial statements for LLPs prepared in accordance with the SORP;
• Constructing the members’ interests table - worked examples and frequently asked questions;
• Presenting and allocating losses in LLP financial statements;
• Update on income recognition for legal practices, a hot topic for LLPs under FRS 102;
• Conversion to an LLP – accounting and audit implications; and
• FRS 102 revaluation gains and losses – accounting presentation for LLPs and the impact on distribution policies.

After qualifying in 1993, Peter spent a number of years in industry and now spends much of his time delivering training courses on aspects of financial reporting, auditing, company law and practice regulation, principally to accountants working in professional practice and in industry. When not training, Peter spends much of his time carrying out audit file reviews and practice assurance reviews for firms of accountants and advising them on issues of financial reporting and audit methodology. This allows him to bring a practical insight to the courses and lectures that he delivers.