RSSArchive for September, 2012

Sep

26

Conceptual Framework for Financial Reporting: an overview

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Conceptual Framework for Financial Reporting: an overview

The objective of the Framework Document is to set out the concepts that underlie the preparation and presentation of financial statements for external users as set out in the Conceptual Framework for Financial Reporting.  It is important at the outset to understand that the Framework Document itself is not a standard – its primary purpose […]

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Sep

26

FRS 10: Goodwill and Intangible Assets

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FRS 10: Goodwill and Intangible Assets

In the next in a series of articles, Steve Collings offers an overview of FRS 10 Goodwill and Intangible Assets as a form of ‘refresher’ of the main contents of the standard. Overview: goodwill and intangible assets FRS 10 deals with accounting requirements of goodwill and intangible assets.  The standard itself recognises that goodwill obtained […]

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Sep

12

Auditors attendance at stock take in the UK & Ireland

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Auditors attendance at stock take in the UK & Ireland

The ‘clarified’ (UK and Ireland) International Standards on Auditing have now been with us for a while and since then the Auditing Practices Board (APB) started to issue revised Practice Notes.  On 22 February 2011, the APB issued Practice Note 25 (revised) which covers the area relating to the auditor’s attendance at stocktake. It is […]

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Sep

10

Reporting financial performance

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Reporting financial performance

Over recent years, there have been a few Any Answers posts on AccountingWEB relating to certain disclosures within the financial statements such as when ‘exceptional items’ are encountered and there is uncertainty as to how to disclose such items.  This is the first of a series of several articles which will take a look at […]

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Sep

6

Audit misconceptions addressed

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Audit misconceptions addressed

Audit inspectors frequently complain about firms that undertake audit work which falls short of acceptable benchmarks.  Certainly during the course of lectures I have come across questions/assumptions that are not necessarily true in the course of audit work and I have put together a few of the more common audit areas which seem to crop […]

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Sep

3

A Guide to Auditor Ethics

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A Guide to Auditor Ethics

Professional ethics – two words which are central to our profession.  How many times do you see auditors in the firing line because of claims that professional ethics have been breached?  Disciplinary pages of various professional bodies are regularly littered with proceedings taken against practitioners because they have failed to comply with professional ethics, such […]

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