Andrew Watkinson, managing director at CPiO, explains why UK businesses with operating leases need to prepare for impact on balance sheet with change to right of use (ROU) assets under FRS 102
Standard setters need to produce clearer guidance for company reporters to help them account for carbon-related instruments in a comparable and transparent manner
The International Accounting Standards Board (IASB) has issued a revised Practice Statement on management commentary to address criticisms from stakeholders
Julia Bowyer FCA and Rachel Farris FCA CTA report on the ICAEW Corporate Reporting Conference where hot topics were major changes to FRS 102, future direction of corporate reporting and possible changes to Companies Act 2006 in light of government review
The Financial Reporting Council (FRC) has amended FRS 101 Reduced Disclosure Framework accounting rules to clarify disclosure reporting in light of new IFRS 19 Subsidiaries accounting standard
A significant update of IFRS for SMEs has been released, reflecting critical changes to accounting rules on revenue recognition, business mergers and reporting loans
The Financial Reporting Council has issued draft amendments to FRS 101 Reduced Disclosure Framework taking into account the impact of brand new IFRS 18 due to come in from 2027
The government has increased turnover and balance sheet thresholds in annual accounts for the first time since 2013 to reduce reporting burden for companies
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