RSSArchive for August, 2012

Aug

15

New UK GAAP: practitioner update

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New UK GAAP: practitioner update

The Accounting Council of the Financial Reporting Council (FRC) has held two meetings in the month of July relating to the new Financial Reporting Standard applicable in the UK and Republic of Ireland (draft FRS 102) which is expected to be issued as a final standard towards the end of 2012. This article provides a […]

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Aug

10

Consolidated accounts in the UK: a quick guide

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Consolidated accounts in the UK: a quick guide

In the UK, the Companies Act 2006 (CA06) now requires medium-sized groups to prepare consolidated (group) accounts.  Under s399 of CA06, group accounts only have to be prepared where, at the end of a financial year, an undertaking is a parent company.  A common question asked is whether this includes overseas subsidiaries.  If a company […]

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Aug

9

Solicitors Accounts Rules: latest FAQs

Solicitors Accounts Rules: latest FAQs

Steve Collings considers some of the emerging questions that are being asked as part of the overhaul of the Solicitors Accounts Rules 2011 and the ‘outcomes-focused’ regime which now governs the way providers of legal services are regulated. I am a reporting accountant for a law firm with a 31 March 2012 year-end.  Do I […]

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Aug

8

Financial reporting: FAQs

Financial reporting: FAQs

Steve Collings considers some frequently asked questions in the areas of tainting rules in IAS 39: Financial Instruments: Recognition and Measurement and deferred tax implications, among others. The FAQs include the taining rules in IAS 39, deferred tax implications on unrealised profits in stock, break clauses in leases and present value tests, provisions for reorganisation costs […]

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Aug

1

Press release: FAQs on IFRS

Press release: FAQs on IFRS

Steve Collings, Sale accountancy firm technical director come international author, is going from strength to strength in this latter profession; following the success of IFRS For Dummies, part of the world-famous For Dummies series, Collings is half-way through writing his next book for one of the world’s largest publishers, John Wiley & Sons (Wiley). Having […]

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