The new UK GAAP, effective for accounting periods starting 1 January 2015, will overhaul the current methods of tax reporting for financial instruments. Paul Davies, CCH corporate tax specialist, considers the tax treatment for a Libor-based loan and warns that these changes will affect all businesses reporting under the new accounting framework

The realisation that FRSSE 2015 was a realistic proposition raises questions about the vision and purpose of the UK accounting regulator, says Sara White

New UK GAAP overhauls reporting as derivatives have to be accounted for at fair value, says Zwi Sacho ACA, director of the corporate accounting advisory practice at Chatham Financial Europe. Find out how the changes will impact your P&L

The latest accounting news from auditor’s warning shakes Tesco board as accounting irregularities and over-reporting of profits hits £263m and chairman quits, FRSSE 2015 set to have minimal shelf-life for small businesses and lack of director independence an issue at UK listed companies

Deloitte’s investigation into accounting irregularities in Tesco’s half yearly profits statement has revealed that the shortfall is larger than the supermarket retailer originally estimated, totalling £263m rather than the £250m first reported

Andrew Marshall, senior technical partner at KPMG in the UK, discusses preparing for the new UK GAAP. With less than three months to go to introduction, it is critical to make sure you are geared up for the changes

As the new UK GAAP comes into force, Andrew Davies, partner and UK&I leader, Financial Accounting Advisory Services at EY runs through the essentials to make sure you’re ready for the changes