UK GAAP/FRS 102

Accounting / FRC proposes simplifications to FRS 102 to cut costs

The Financial Reporting Council (FRC) is consulting on proposals to make some significant changes to FRS 102 to clarify loan definitions and alter the market definition of some directors loans 

Accounting / Small business accounts: financial instruments - part 4

Anne Cowley ACA considers potential pitfalls when reporting and accounting for director’s loans, fixed asset invements and derivatives under new UK GAAP, with tips and advice for smaller businesses considering adopting FRS 105

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 / 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 / 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 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 / 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 / Companies Act 2006 amended to extend strategic report requirements

A number of amendments to the Companies Act 2006 introduced via statutory instrument 2016/1245 will require companies and qualifying partnerships to include non-financial information statement in the annual strategic report from 1 January 2017

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

Accounting / FRS 102: accounting for asset impairment and goodwill - tips and advice

In part 15 of this exclusive New UK GAAP series, Helen Lloyd FCA reviews accounting for impairment of assets and goodwill, highlighting key differences between the new FRS 102 Section 27 Impairment of Assets and former FRS 11 Impairment of Fixed Assets and Goodwill

Accounting / Harrison: accounting for defined benefit pension schemes sub-standard

Many UK listed companies face spiralling defined benefit pension deficits but what is truly disconcerting is the real difficulty in assessing the extent of these pension black holes using publicly available information. Matthew Harrison, managing director of Lincoln Pensions calls for a fresh approach to pensions reporting and disclosures
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