Accounting / Ireland to adopt FRS 105 for the first time

Ireland has passed the Companies Accounting Bill 2016 and will begin to implement the EU accounting directive which allows small and micro companies to use FRS 105 micro entities regime and section 1A of FRS 102 for the first time, despite the UK adopting the same legislation two years ago

Accounting / Small business accounts: deferred tax - part 6

The treatment of deferred tax under new UK GAAP is rather more challenging than first expected, warns Anne Cowley ACA. Deferred tax takes on a greater role in FRS 102 accounts, appearing more frequently than before due to the extended ‘timing difference plus’ approach adopted by the new standard

Accounting / Cash basis accounting: what you need to know

Tim Humphries, associate director at Menzies LLP, sets out the top 10 things to bear in mind when deciding on the best accounting method for a small business, with a particular focus on how to use case basis accounting

Accounting / FRC withdraws director's loan requirement for smallest companies

The Financial Reporting Council (FRC) has caved in to pressure on director’s loan reporting for small companies and is withdrawing the requirement to find a market rate of interest where a loan is made on an off-market basis under new UK GAAP

Accounting / Charities SORP: financial reporting - NEW CPD module

This month's CCH Daily CPD module focuses on charity reporting under the charities SORP, the only SORP available to charities from 1 January 2016, outlining how to plan for the transition from using FRRSE to FRS 102 reporting

Accounting / Accounting updates: May 2016

In the roundup of the latest accounting developments, FRC increases membership levy by 5%, SFO fines Tesco £129m, Charity Commission issues accounts templates for GAAP users

Accounting / Marshall: taking stock of FRS 102 - triennial review

Andrew Marshall FCA, senior technical partner at KPMG, outlines the proposed changes to FRS 102 accounting rules from definition of financial instruments to property investments and directors’ loans, with signs some treatments may revet to old UK GAAP

Accounting / Financial reporting for LLPs under revised SORP: tips and advice

Under the revised accounting SORP for LLPs, small partnerships must exercise increased judgment in disclosures when applying new accounting rules which take into account new UK GAAP, explain Andrew Baker, head of professional services group, north west, and Colin Burns, technical director, RSM

Accounting / Small business accounts: investment property - part 5

In the fifth of our exclusive series on small company accounting, Anne Cowley examines the key new UK GAAP changes for small businesses accounting for investment property and explains how small rule changes can create substantial challenges 

Accounting / ICAEW publishes guidance on dividend and distributable profit payouts

ICAEW and ICAS have published the long-awaited guidance Tech 02/17BL on realised and distributable profits, covering treatment of dividends, which now takes into account the impact of FRS 102 accounting rules

Accounting / Dealing with dividend payments

A further two companies, Domino's Pizza and Dunelm, have recently admitted to incorrect dividends payouts, demonstrating that paying out the wrong dividends is becoming an increasingly complicated issue for listed companies, warn Kate Ball-Dodd, partner and Dominic Palmer, senior associate at Mayer Brown International LLP

Accounting / FRS 102: three-year review proposes revisions to directors' loan accounting

In the first triennial review of new UK GAAP, the standard setter is considering changes to reporting of directors’ loans, investment property and the definition of financial instruments. Anne Cowley ACA assesses the proposals and impact on company reporters

Accounting / Charity Commission introduces accounts templates

The Charity Commission has launched an accounts templates pack for small charitable companies, designed in partnership with Companies House, to help trustees of charitable companies with an income of under £500,000 prepare their accounts

Accounting / FRS 102 and employee benefits - NEW CPD module

This month's CCH Daily CPD module focuses on employee benefits under the scope of Section 28 in FRS 102 under new UK GAAP, with advice on stating employee benefits in accounts and calculating more challenging benefits regarding termination

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