UK GAAP

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 / 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 / FRC proposes amendments to FRS 102 for Gift Aid payments

The Financial Reporting Council (FRC) is set to amend the rules for handling Gift Aid payments under FRS 102 in an effort to clarify when profits from a non-charitable subsidiary can be distributed to the parent charity

Accounting / FRS 102: handling derivatives and material valuations

Zwi Sacho, director of corporate accounting advisory practice at Chatham Financial Europe, tackles the large and material valuation requirements of derivatives under FRS 102 accounting, as businesses adjust to the standard

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 / Small business accounts: filleted accounts - part 9

Anne Cowley ACA rounds off the series on small business accounting with tips and advice on how to prepare filleted accounts, an exemption which allows eligible companies to omit the directors' report and the profit and loss account from the filed accounts 

Accounting / Accounting for LLPs – NEW CPD module

This month's exclusive CCH Daily CPD module focuses on limited liability partnership (LLP) accounting standards and the 2017 SORP, small LLPs applying section 1A and micro LLPs, specific accounting requirements for LLPs and auditor resignation

Accounting / Accounting updates: August 2017

In this month’s roundup of developments in accounting and financial reporting, FRC confimrs ni IFRS changes to FRS 102, IFRS chief calls for clarity on cashflow and income, FRC to revise PN 12 money laundering guidance

Tax / HMRC issues guidance on tax treatment for FRS 105 accounts

HMRC has issued guidance on the tax implications of transition to the new accounting rules for small business under the FRS 105 Micro-entities Regime, as the first year of reporting under the FRSSE replacement comes into effect, setting out recommended tax treatment

Accounting / Small business accounts: abridged accounts - part 8

Under the small company accounting regime businesses can produce abridged accounts with truncated primary statements. Anne Cowley ACA explains how to use abridged accounts, which should not be confused with the old abbreviated accounts

Accounting / Exclusive download: UK GAAP and small business accounts part 1

In the latest exclusive Accountancy UK GAAP download series, part one of our essentials guide focuses on accounting changes for small businesses, from transition tips and the micro accounts regime, to audit exemptions and financial instruments

Accounting / Small business accounts: disclosures and Section 1A - part 7

In the latest article in our series on practical accounting issues for small businesses under new UK GAAP, Anne Cowley ACA examines how to deal with disclosure requirements and the use of Section 1A, the difficulties over applying somewhat challenging guidelines on true and fair in practice and the importance of providing enough information about material balances and transactions 

Accounting / Accounting updates: June 2017

In this month’s roundup of developments in accounting and financial reporting, Mitie faces £50m accounting writedown, Companies House cuts, director loan changes adopted for small businesses, IFRS 17 Insurance contracts released 

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
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