Accounting Standards

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Finance | FRC details advisory group for corporate reporting project

The Financial Reporting Council (FRC), which is currently under fire after the Kingman review recommended its abolition, has announced the composition of the advisory group for a major project on the future of corporate reporting

19 Dec 2018

Finance | IASB to propose amendment to IFRS 17

The International Accounting Standards Board (IASB) has decide to look at an amendment to IFRS 17 Insurance Contracts, relating to the separate presentation in the financial position statement of groups that are either assets or liabilities

14 Dec 2018

Finance | FRC issues revised standard and guidance for bank audits

The Financial Reporting Council (FRC) has issued an international standard on auditing accounting estimates and related disclosures, covering the audit of expected credit losses in banks and which has been revised to reflect the increased importance and complexity of estimates in financial statements

12 Dec 2018

Finance | Oxford debate split over sustainability reporting

A debate over whether sustainability reporting should be mandated and organised by independent bodies or left for the markets heard broad agreement that such reporting should be done, but faced strong rejection of any compulsory requirement

12 Dec 2018

Finance | Charities: Gift Aid, deeds of covenant and trading subsidiaries - part 8

Helena Wilkinson FCA, partner at Price Bailey, examines the changes brought in by Financial Reporting Standard (FRS) 102 and what they mean for charities when it comes to recording donations in their accounts

5 Dec 2018

Finance | Charity accounts part 14: cost allocation

This article, the last in our series on charity accounts, will focus on cost allocation and outlines which costs should fall under which headings as well as outlining the various problems that arise with cost allocation in company accounts

4 Dec 2018

Finance | IFRS chair endorses EU fitness check on standards

In his first speech as chairman of the IFRS foundation trustees, Erkki Liikanen has welcomed the outcome of the EU ‘fitness check’ on IFRS standards, and the emphasis on not requesting ‘carve outs’ from International Accounting Standards Board (IASB) requirements

3 Dec 2018

Finance | Accounting updates: December 2018

In this month’s roundup of accounting and reporting developments, Companies Act 2006 amended for post-Brexit scenario, profit warning at Yü Group, Housing SORP 2018 issued, IFRS 17 Insurance Contracts delayed and poor quality disclosure reporting at smaller listed entities

3 Dec 2018

Finance | International reporting: IASB still has much to do

As 2018 draws to a close, Jeroen Van Doorsselaere discusses the long-term plans of the International Accounting Standards Board (IASB), the work it is doing on materiality, and its collaboration with other boards to develop a global common set of standards

29 Nov 2018

Finance | Recommendations for IFRS 9 expected credit loss disclosures

A specialist taskforce on disclosures about expected credit losses has published ‘stretching’ recommendations for the UK's biggest banks in meeting requirements under IFRS 9 Financial Instruments, which will have a significant effect on how they calculate loan loss provisions

28 Nov 2018

Finance | Charity accounts part 13: recognition of liabilities and commitments

This article, the thirteenth in our series on charity accounts, will focus on accounting for grants payable and provisions for commitments, including performance-related grants and disclosure of grants payable

27 Nov 2018

Finance | IFRS 16 Leases: extractives and mining sector - part 8

In part eight of our series on IFRS 16 Leases, Louise Sayers, audit partner and head of natural resources at BDO, examines why it is of particular importance to the extractives and mining sector and what companies should consider when applying the new standard

22 Nov 2018

Finance | Charity accounts part 12: accounting for grants and receivables

This article, the twelfth in our series on charity accounts, will focus on how to account for the various different types of grant and contract based income that charities receive, including unconditional grants, grant income recognition, claw back and disclosures

20 Nov 2018

Finance | IASB confirms one-year deferral for IFRS 17

The International Accounting Standards Board (IASB) is proposing a one-year deferral of the effective date for IFRS 17 Insurance Contracts, under which insurance contract liabilities will be calculated as the present value, to 2022

15 Nov 2018

Finance | Standards setters start work on corporate reporting alignment

The Corporate Reporting Dialogue (CRD), a group of major international corporate reporting standard setters and framework providers, has announced a two-year project focused on driving better alignment in the corporate reporting landscape

14 Nov 2018

Finance | Charity accounts part 11: financial instruments

This article, the eleventh in our series on charity accounts, will focus on how financial instruments are accounted for under FRS 102 SORP, including what disclosures charities are required to make about their basic financial instruments

13 Nov 2018

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Latest news

Finance | FRC details advisory group for corporate reporting project

Finance | IASB to propose amendment to IFRS 17

Finance | FRC issues revised standard and guidance for bank audits

Finance | Oxford debate split over sustainability reporting

Finance | Charities: Gift Aid, deeds of covenant and trading subsidiaries - part 8

Finance | Charity accounts part 14: cost allocation

Finance | IFRS chair endorses EU fitness check on standards

Finance | Accounting updates: December 2018

Finance | International reporting: IASB still has much to do

Finance | Recommendations for IFRS 9 expected credit loss disclosures

Finance | Charity accounts part 13: recognition of liabilities and commitments

Finance | IFRS 16 Leases: extractives and mining sector - part 8

Finance | Charity accounts part 12: accounting for grants and receivables

Finance | IASB confirms one-year deferral for IFRS 17

Finance | Standards setters start work on corporate reporting alignment

Finance | Charity accounts part 11: financial instruments