Accounting / IFRS 15 rollout will stop mobile networks overcharging after contracts end

Telecoms giants Vodafone, EE and Three are continuing to charge customers extra for a handset after this cost has been covered in their fixed deal, research suggests, despite the looming prospect of IFRS 15 Revenue from Contracts with Customers

Accounting / FRS 101: disclosure exemptions explained - part 2

Anne Cowley ACA examines the disclosure requirements and exemptions provided under FRS 101 Reduced Disclosure Framework, and explains how to make the most of reporting under this accounting regime and any potential pitfalls for reporters

Accounting / IASB consults on narrow-scope amendments to IFRS 9 and IAS 28

The International Accounting Standards Board (IASB) is consulting on minor amendments to IFRS 9 Financial Instruments and to IAS 28 Investments in Associates and Joint Ventures to aid implementation, even before IFRS 9 is implemented

Accounting / FRC tips for 2017/18 annual reporting requirements

The Financial Reporting Council (FRC) has written to companies to highlight changes to reporting requirements and key areas where improvements can be made when preparing annual reports for the 2017/18 reporting season, with a particular focus on meeting investors’ requirements

Accounting / IFRS Foundation promotes communication in financial statements

The IFRS Foundation has published a case study report showing how companies from different parts of the world have improved communication in their IFRS financial statements, in a bid to encourage improvements in reporting

Accounting / Accounting updates: October 2017

In this month’s roundup of developments in accounting and financial reporting, switch to IFRS 15 hits Capita's 2016 profits, Companies House rejects some micro entity accounts, Charity Commission annual return service launched

Accounting / UK must resist deviating from IFRS post-Brexit, says ICAEW

The UK should continue to apply internationally-accepted accounting standards if the UK wishes to retain its status as a major global financial centre, according to the ICAEW’s Financial Reporting Faculty

Accounting / FRS 102: accounting for distributable profits and intragroup loans

After a number of reporting errors made by listed companies, Sarah Perrin ACA examines the accounting rules for the treatment of distributable profits and intragroup loans rules under FRS 102 

Accounting / International reporting: IFRS 17 Insurance Contracts unpicked

Jeroen Van Doorsselaere, VP of risk and finance at Wolters Kluwer, unravels IFRS 17 Insurance Contracts, announced in May earlier this year, explaining what changes have been made to the previous insurance standard IFRS 4 which will be replaced by IFRS 17 when it is implemented in 2021

Accounting / IASB announces members of transition group for IFRS 17

The International Accounting Standards Board (IASB) has announced the 18 members of its transition resource group to support the implementation of IFRS17 Insurance Contracts, with five out of the 18 members based in the UK

Accounting / Hoogervorst calls for greater focus on intangibles reporting not IFRS numbers

The head of the International Accounting Standards Board (IASB) has set out a robust defence of its role as the IFRS standard-setter against a backdrop of investor demand for alternative performance measures and increasing calls for more information on intangibles and value, rather than a focus on pure numbers

Accounting / IASB releases tips and advise on materiality judgments under IFRS

The International Accounting Standards Board (IASB) has issued detailed guidance to help company reporters with materiality judgments, designed to encourage them to use judgment instead of using IFRS requirements as a checklist by default

Accounting / IASB consults on definition of material information in IAS 1 and IAS 8

The IASB has launched a consultation on proposed clarifications to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors centring on the definition of ‘material’ information in financial statements  

Accounting / FRS 101: why choose reduced disclosure accounts - part 1

In part one of a new series on FRS 101 Reduced Disclosure Framework, Anne Cowley ACA considers the pros and cons of choosing FRS 101 to prepare UK GAAP accounts, highlighing potential pitfalls and considering which companies should adopt the accounting rules

Accounting / IASB to clarify how to distinguish accounting policies from estimates

The International Accounting Standards Board (IASB) is consulting on proposed narrow scope amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to make it easier for company preparers to make the distinction between accounting policies and accounting estimates