Credit ratings agency Moody’s has criticised plans to defer the rollout of the new US lease accounting standard for smaller companies and non-profits, saying it will distort comparability of accounts

The complex rules around distributable reserves has led to incorrect dividend payments and miscalculations, with interim reporting creating further challenges for listed companies. Andrew Marshall FCA, senior technical partner at KPMG, examines the issues

FTSE 100 home improvement group, Kingfisher, has warned that the new lease accounting standard, IFRS 16, which it has adopted retrospectively, has affected certain half year 2018/19 and full year 2018/19 income statement line items, including retail profit by geography

The US Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would grant private companies, not-for-profit organisations, and certain small public companies additional time to implement the new standard on leases, current expected credit losses (CECL) and hedging

The Financial Accounting Standards Board (FASB) is considering deferring the implementation date for the new lease accounting standard by a year for private companies and non-profits in the US

The International Accounting Standards Board (IASB) has published proposed narrow-scope amendments to IAS 1 Presentation of Financial Statements to help companies improve their accounting policy disclosures for users of financial statements

This month's exclusive Accountancy Daily CPD module focuses on filing accounts at Companies House covering the legal requirements, electronic filing, reasons for rejection and specific rules for charities and limited liability partnerships (LLPs)

In this month’s accounting updates, misstatements at AIM-listed Renold and Eddie Stobart Logistics, deferred prosecution for Serco, late filing penalty change at Companies House, revised ethics code, FRC flags problems with half of annual reports reviewed, IASB consults on insurance contracts and prioritises intangibles, while one third of local councils are at risk of financial failure

Complicated changes to IFRS 17 Insurance Contracts even before it comes into force in 2022 highlight inherent complexities. Jeroen Van Doorsselaere examines the proposals

London and Birmingham are the worst areas in the country for filing accounts late with over 200,000 UK companies facing fines for non-compliance for missing the Companies House deadline

The Financial Reporting Council (FRC) is consulting on amendments to hedge accounting under FRS 102 to reflect changes to interest rate benchmarks

The Financial Reporting Council (FRC) has issued an amendment to FRS 101 reduced disclosure framework as part of its annual review, to address a conflict with the new insurance contracts standard