Accounting standards

Accounting / FRS 102: related parties and close family members - tips and advice

In part 20 of our New UK GAAP series, Helen Lloyd FCA assesses the accounting reporting for related parties looking at disclosure requirements about close family members, associates and joint ventures, an area which is dealt with fairly vaguely in FRS 102 section 33

Accounting / International reporting: 2017 will be the year of truths for IFRS

This year marks the implementation of two new accounting standards, IFRS 16 Leases and IFRS 9 Financial Instruments. Jeroen Van Doorsselaere, vice president of risk and finance at Wolters Kluwer Financial Services comments on a year of truth for IFRS reporters

Accounting / Marshall: time for transparency on judgments and estimates

Investors want financial statements to clearly explain the judgments and estimates made, but companies often obscure the detail. Andrew Marshall FCA, senior technical partner at KPMG, considers whether the latest FRC thematic review will improve the situation

Accounting / Stallabrass: post-Brexit accounting standards from UK GAAP to IFRS

Matthew Stallabrass, partner in the corporate team at Crowe Clark Whitehill, considers how Brexit may affect the future use of key accounting standards in the UK from FRS 102 - new UK GAAP - to International Financial Reporting Standards (IFRS) 

Accounting / EFRAG consulting on draft endorsement for IFRS 16

The European Financial Reporting Advisory Group (EFRAG) is now consulting on its draft endorsement advice on the new lease accounting standard, IFRS 16

Accounting / FRS 102: accounting for groups - tips and advice

In part 19 of this exclusive New UK GAAP series, Helen Lloyd FCA unpicks the accounting rules for reporting entities involved in groups or other entities, as set out in FRS 102 sections 9, 14, 15 and 19

Accounting / FRS 103 insurance contracts standard revised

The Financial Reporting Council (FRC) has issued a revised version of FRS 103 Insurance Contracts and the accompanying non-mandatory implementation guidance, incorporating the amendments arising as a result of Solvency II that were issued in May 2016.  

Accounting / FRS 102: accounting for provisions and contingencies - tips and advice

In part 18 of this exclusive New UK GAAP series, Helen Lloyd FCA assesses the accounting rules on provisions and contingencies, set out in FRS 102 section 21, which closely reflect the old treatment so should not pose significant transition issues

Accounting / Small business accounts: transition to new UK GAAP - part 3

In the third of our exclusive series on small company accounting, Anne Cowley ACA provides useful tips and advice on the move to the new accounting rules for small business

Accounting / FRS 102: accounting for revenue - tips and advice

In part 17 of this exclusive New UK GAAP series, Helen Lloyd FCA considers the accounting rules on the complicated issue of revenue reporting, focusing on key requirements set out in FRS 102 section 23 Revenue

Accounting / Accounting updates: February 2017

In this month’s roundup of developments in accounting and financial reporting, lack of independence threatens the FRC, Agent Provocateur accounts probe by KPMG, XHTML tagging required for annual financial statements

Accounting / FRS 102: reporting distributable profits and dividends – part 2

Under FRS 102, reporting distributable profits has been overhauled, but how does this affect companies, asks Barbara Griessner, a director of technical accounting at KPMG

Accounting / CCAB issues revised LLPs SORP

CCAB has published a revised statement of recommended practice (SORP) for limited liability partnerships (LLPs).

Accounting / FRS 102: accounting for intangible assets – tips and advice

In part 16 of this exclusive New UK GAAP series, Helen Lloyd FCA reviews accounting changes to reporting intangible assets, focusing on key requirements set out in FRS 102 Section 18 Intangible Assets other than Goodwill versus the old FRS 10 treatment

Accounting / FRS 102: reporting distributable profits and dividends - part 1

Accounting for intragroup loans, distributable profits and dividends is still a grey area under new FRS 102 accounting rules. Sarah Perrin ACA talks to accounting experts about current practice and the timeline for the release of the long-awaited ICAEW/ICAS guidance note to clarify reporting requirements
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