RSSArchive for September, 2014

Sep

29

FRS 102: Accounting for basic financial instruments

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FRS 102: Accounting for basic financial instruments

The term ‘financial instruments’ often results in accountants glazing over. In some cases financial instruments are very complex issues to deal with, but this is not always the case for financial instruments and almost all companies will have some form of financial instrument in their accounts (trade debtors, trade creditors, cash balances and loans are […]

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Sep

19

Solicitors Regulation Authority decides on the future of Accountant’s Reports

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Solicitors Regulation Authority decides on the future of Accountant’s Reports

Earlier this year, the Solicitors Regulation Authority (SRA) opened a consultation on the future of accountants’ reports for firms handling client monies. Currently all solicitors which hold client money have to file an accountant’s report within six months of the year-end. The SRA suggested withdrawing the requirement for solicitors to file an accountant’s report and […]

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Sep

15

Small companies regime set for changes

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Small companies regime set for changes

On 29 August 2014, the Department for Business Innovation and Skills (BIS) has announced details of proposals concerning how it intends to transpose the new EU Accounting Directive in the UK and is seeking views on the UK’s proposed implementation of the new directive. The UK has until 20 July 2015 in which to transpose […]

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Sep

9

Small company reporting set for sweeping changes

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Small company reporting set for sweeping changes

In light of the legislative changes occurring in the UK which were announced by the Department for Business, Innovation and Skills (BIS) on 29 August 2014, the Financial Reporting Council (FRC) has published a consultation document outlining their proposals on the implementation of the EU accounting directive. The most significant changes arising from the EU […]

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