In the latest article in our series on practical accounting issues for small businesses under new UK GAAP, Anne Cowley ACA examines how to deal with disclosure requirements and the use of Section 1A, the difficulties over applying somewhat challenging guidelines on true and fair in practice and the importance of providing enough information about material balances and transactions 

The US tax authorities may have to repay up to $300m to accounts preparers, after a court ruled that the fees charged for issuing Preparer Tax Identification Numbers (PTIN) required with submissions are illegal

The Financial Reporting Council (FRC) has closed part of its two year-plus investigation into PwC’s conduct as auditors of Tesco plc, after concluding there was not a realistic prospect that a disciplinary tribunal would make an 'adverse finding' against the firm and PwC partners involved in this particular strand of the investigation

In this month’s roundup of developments in accounting and financial reporting, Mitie faces £50m accounting writedown, Companies House cuts, director loan changes adopted for small businesses, IFRS 17 Insurance contracts released 

The International Accounting Standards Board (IASB) is seeking stakeholders’ views about their experience with IFRS 13, the accounting standard that explains how to measure the ‘fair value’ of assets and liabilities, to address problems identified with disclosure requirements

The OECD is consulting on outline guidance on the approach to pricing transfers of hard-to-value intangibles (HTVI) described in its transfer pricing guidelines, which is one of the requirements of its Base Erosion and Profit Shifting (BEPS) action plan

The International Accounting Standards Board (IASB) has issued IFRS 17 Insurance Contracts. Here we provide an overview of the key elements of the new accounting standard

Scottish limited partnerships may not be aware of extensions to the rules for the register of people with significant control (PSC), which come into effect from next month, warns Saffrey Champness 

The introduction of IFRS 17 Insurance Contracts will completely transform the accounting rules for insurance companies as they are forced to move to a current valuation approach from the existing historical accounting treatment, reports Sara White

The global accounting standard setter, the IFRS Foundation, has signed a cooperation agreement with the World Bank to support developing economies in their adoption and use of International Financial Reporting Standards (IFRS)

Global standard setter the International Valuation Standards Council (IVSC) has opened a consultation on future revisions to the international valuation standards (IVS) in a number of areas, despite only publishing IVS 2017 in January

Ireland has passed the Companies Accounting Bill 2016 and will begin to implement the EU accounting directive which allows small and micro companies to use FRS 105 micro entities regime and section 1A of FRS 102 for the first time, despite the UK adopting the same legislation two years ago