Welcome to
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Challenge
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Problems
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Solutions
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Curtains Too the SQL was delivered with the
Kesho Coding Plan.
The Kesho Coding Plan is ordered according
to the Companies Act 1985/1989 format.
The current financial year-end accounts
must be presented to the FRS102 standard.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Fixed assets
1985 1989
Companies
Act Format
Current assets
FRS102
Symposium
Liabilities
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Revenue
Balanceaccount
sheet
1985 1989
Companies Act Format
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Revenue account
1985 1989
Companies Act Format
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Kesho has developed two solutions to assist
with the transition to the FRS102 standard.
The first involves re-ordering the nominal
ledger accounts.
An almost impossible task if the credit
union were to attempt to do this manually.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
The Kesho Coding Plan has been revised in
the order required under FRS102.
An Excel spreadsheet has been produced to
illustrate this.
The same spreadsheet will be used to map
existing nominal codes to FRS102.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
NEW
CODE
OLD
CODE
DESCRIPTION
PRINT
IND
1021
1041
1060
1080
1100
1120
1140
1160
1180
1200
1220
1240
1260
1280
1300
1320
1340
1381
Kesho
Kesho
ASSETS
Cash, cash equivalents and liquid deposits
Treasury bonds etc
UK Government bills etc
Cash and balances with the bank of England
Bank account 1
Bank account 2
Bank account 3
Bank account 4
Bank account 5
Bank account 6
Bank account 7
Bank account 8
Bank account 9
Bank account 10
Bank account 11
Bank account 12
Loans and advances to banks
Kesho
Kesho
1021
1041
1060
1080
1100
1120
1140
1160
1180
1200
1220
1240
1260
1280
1300
1320
1340
1381
1382
1400
1420
1440
1460
1480
1500
1520
1540
1560
1580
1600
1620
1640
1660
1680
1700
1720
1740
1760
1780
1800
1820
1840
1860
1880
1900
1920
1940
1960
1980
1981
2000
2020
2040
2060
2080
2100
2120
2181
2200
2220
2240
2260
2280
2300
2320
2340
2360
2380
2381
2400
2420
2440
2460
2480
2500
2520
2540
2560
2580
2600
OLD
CODE
Kesho
Kesho
Kesho
2500
2570
2480
2603
2604
2602
2600
2610
Kesho
Kesho
Kesho
2010
2020
2030
2045
2095
2040
2050
4460
4470
Kesho
Kesho
1010
1020
1030
1040
1050
1060
Kesho
Kesho
2160
2300
2210
Kesho
Kesho
2270
DESCRIPTION
PRINT
IND
ASSETS
H
Ca sh, ca sh equi va l ent s a nd l i qui d deposi t s
H
Tr eas ur y bonds etc
N
UK Gov er nment bills etc
N
Ca sh a nd ba l a nces wi t h t he ba nk of Engl a nd
1
Bank ac c ount 1
N
Bank ac c ount 2
N
Bank ac c ount 3
N
Bank ac c ount 4
N
Bank ac c ount 5
N
Bank ac c ount 6
N
Bank ac c ount 7
N
Bank ac c ount 8
N
Bank ac c ount 9
N
Bank ac c ount 10
N
Bank ac c ount 11
N
Bank ac c ount 12
N
Loa ns a nd a dva nces t o ba nk s
1
DO NO T USE
DO NO T USE
Loan pr oduc t 1
N
Loan pr oduc t 2
N
Loan pr oduc t 3
N
Loan pr oduc t 4
N
Loan pr oduc t 5
N
Loan pr oduc t 6
N
Loan pr oduc t 7
N
Loan pr oduc t 8
N
Loan pr oduc t 9
N
Loan pr oduc t 10
N
Loan pr oduc t 11
N
Loan pr oduc t 12
N
Loan pr oduc t 13
N
Loan pr oduc t 14
N
Loan pr oduc t 15
N
Loan pr oduc t 16
N
Loan pr oduc t 17
N
Loan pr oduc t 18
N
Loan pr oduc t 19
N
Loan pr oduc t 20
N
Loan pr oduc t 21
N
Loan pr oduc t 22
N
Loan pr oduc t 23
N
Loan pr oduc t 24
N
Bad debts w r itten of f ( impair ed loans )
N
Bad debt c ontr ol ( impair ed v alue)
N
Spec if ic pr ov is ion
N
Gener al pr ov is ion
N
A dditional impair ments
N
Loa ns a nd a dva nces t o member s
1
DO NO T USE
Fix ed as s ets br ought f or w ar d at c os t
N
A dditions in y ear
N
Dis pos als in y ear
N
A c c umulated depr ec iation br ought f or w ar d
N
Depr ec iation c har ge in y ear
N
Depr ec iation on dis pos als
N
Ta ngi bl e f i xed a sset s
1
DO NO T USE
Other r ec eiv able 1
N
Other r ec eiv able 2
N
Other r ec eiv able 3
N
Other r ec eiv able 4
N
Other r ec eiv able 5
N
Other r ec eiv able 6
N
Other r ec eiv able 7
N
Other r ec eiv able 8
N
Other r ec eiv able 9
N
O t her r ecei va bl es
1
DO NO T USE
Pr epay ment 1
N
Pr epay ment 2
N
Pr epay ment 3
N
Pr epay ment 4
N
Pr epay ment 5
N
Pr epay ment 6
N
Pr epay ment 7
N
Pr epay ment 8
N
Pr epay ment 9
N
Pr epay ment 10
N
TOTAL
IND
ULINE
IND
COL
IND
STATUS
IND
NOTE
IND
BOLD
IND
LFEED
IND
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Y
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
0
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
N
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
1
0
0
0
0
0
0
0
2
2
2
2
2
2
2
0
0
0
0
0
0
0
N
N
N
N
N
N
N
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
2
2
2
2
2
2
2
2
2
2
0
0
0
0
0
0
0
0
0
0
N
N
N
N
N
N
N
N
N
N
1
1
1
1
1
1
1
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2
2
2
2
2
2
2
2
2
2
0
0
0
0
0
0
0
0
0
0
N
N
N
N
N
N
N
N
N
N
1
1
1
1
1
1
1
1
1
1
ALT
CODE
PERIOD
C/FWD
YEAR
C/FWD
2020
2020
2020
2040
2040
2040
Remember to insert the corresponding P & L code in the
'Period Cfwd' code cell in order to facilitate accrual and
NEW
CODE
H
H
N
N
1
N
N
N
N
N
N
N
N
N
N
N
N
1
TOTAL
IND
ULINE
IND
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
FRS102
0
0
Symposium
0
0
0
230 JUNE 2016
Manchester
Conference
0
0 Centre
Summer School 2016
1
1
C
IN
1
1
1
1
Getting ready for FRS102?
To utilise this method of converting the
existing nominal ledger.
Download the spreadsheet from Kesho’s
website www.kesho.co.uk.
Click ‘Curtains Too’ then click ‘FRS102
Mapping template’.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Download the spreadsheet to a sensible
location for ease of access later.
Using a coding plan and/or trial balance
record your existing codes in column C.
Repeat this for all nominal codes you have
used previously.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Before conversion, ensure you have no
uncleared audit reports.
Ensure all users are out of Curtains.
Ensure a backup is made of your Curtains
databases.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
•
Maintenance.
• Nominal
• Account maintenance
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
While the accounts are being re-numbered,
a counter will show at the top of the screen.
Dependent on the number of transactions
there may be a significant delay thereafter.
Once the program is complete the system
will simply return to the Curtains desktop.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
We can now take a look at the new format
of the Trial balance.
We can view the Balance sheet in FRS102
format.
We can also view the Revenue account in
FRS102 format.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
FRS102
Format
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Balance sheet
FRS102 format
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Revenue account
FRS102 format
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
That’s the easy part – because there was
already a ‘Balance sheet’ to convert.
There was also an existing ‘Revenue
account’ to convert.
Even the mechanics of fixed asset register
and schedule have been converted.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
However, the ‘Cash flow’ is new to most
credit unions.
As is the credit risk analysis / impairment
schedule.
And while we are at it we may as well
consider the other notes to the accounts.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
The ‘Cash flow’ illustrates how changes in
the Balance sheet and income affect cash1
Unlike the two other statements this does
not follow the coding plan route.
Therefore we need another way of finding
the information to complete the Cash flow.
FRS102
Symposium
1. Cash or cash equivalents
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
This is where we introduce a completely
new program.
For those who don’t like housekeeping, this
is not the most exciting task.
However, once completed, the result can be
extremely satisfying.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Introducing ‘Accounts format maintenance’
document creator.
This program is found under maintenance,
nominal.
It is used to dart in and out of various
locations picking up relevant information.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
• Maintenance
• Nominal
• Accounts format
maintenance
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Account Format Maintenance
The Accounts Format Maintenance program is used to add a new stautory account to the existing Chart
of Accounts or to alter the details of an existing statutory account.
Print
Effect
Indicator
0
Print contents of account
1-9
Print sub-total specified (1-9)
A
Print accumulated value of all accounts marked
D
Start of new document
H
Print heading
N
Do not print, but accumulate and print when an account with the indicator 'A' is encountered.
R
Accumulate a range of codes and print when an account with the indicator 'A' is encountered.
Z
Print title even if balance is zero.
T
Print text.
Y
Specify year, notes and currency sign.
Account maintenance 0 Tab.
Accounts format maintenance
Operating instructions
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Since Kesho has no knowledge of nominal
codes added by each credit union.
It is impossible to create a standard
Statutory plan that will work for every CU.
Nevertheless Kesho may consider building a
skeleton plan to give users a start.
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
What if the Board doesn’t want to change
the layout of the nominal ledger?
That is where ‘Plan B’ comes in – The coding
plan can stay as it is.
And the ‘Statutory’ file can control ‘Balance
sheet’, ‘Revenue account’ and all ‘Notes’ .
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
Extract from statutory coding plan illustrating
covering page and Balance sheet references
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
Getting ready for FRS102?
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016
FRS102
Symposium
23 JUNE 2016
Manchester Conference Centre
Summer School 2016