Accounting for Limited Liability Partnerships (including the New LLP SORP)

BPP Professional Education
Course summary
3 hours
315 GBP excl. VAT
London, Online courses
Next available date: Online delivery option may be available - Please contact provider. - Online courses
Professional Training

Course description

Accounting for Limited Liability Partnerships (including the New LLP SORP)

Partnerships are not required to prepare their accounts under full UK accounting standards and few do this voluntarily, choosing instead to adopt accounting policies that are straightforward to administer or felt to better achieve equity between partners. On the other hand an LLP is required by law to prepare full statutory accounts in accordance with accounting standards, and, unless the LLP is small enough to be exempt, these must be subject to an audit.We also cover the revised LLP Statement of Recommended Practice (SORP) issued in July 2014, further to the development of FRS 102.

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Suitability - Who should attend?

This course will prove useful to those considering the switch from partnership to LLP, those new to accounting for LLPs or existing employees looking to refresh or consolidate their knowledge. Auditors of LLPs would also benefit from attending.

Training Course Content

Learning outcomes include obtaining a greater understanding of:The law and practice of LLPsGeneral accounting requirements and the new LLP SORPThe contents of the annual report and financial statementsMembers' remuneration and interestsRetirement benefitsTaxationRevenue recognitionProvisionsOther relevant accounting standardsThe transition from partnership to LLP

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About provider

BPP Professional Education

BPP Professional Education -  Accountancy, Tax, Financial Services, Law & Insolvency Courses

BPP Professional Education is one of the specialist examination-based and professional development training arm of the BPP Group, Europe's biggest professional education and publishing provider with 2,000 staff members across 40 countries and over 30,000 students per year. BPP Professional Education...

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BPP Professional Education

3 London Wall Buildings
EC2M 5PD London

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