IFRS

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Finance | Accounting filing deadlines: Sep - Dec 2019

The key accounting deadline is 30 September for annual returns for private companies for periods ending 31 December 2018, and for public companies with periods ending 31 March 2019 to be filed at Companies House, while December marks year end reporting for academy school trusts

19 Sep 2019

Accounting Standards

Financial Reporting

Audit Consultations

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Finance | International reporting: how relevant are IFRS standards?

The recent IASB annual conference focused on the transparency of international reporting under IFRS, the relevance of standards to company reporters and stakeholders, and the definition of materiality. Jeroen Van Doorsselaere, vice president of value propositions at Wolters Kluwer Financial Services, unpicks the key issues

5 Sep 2019

Accounting Standards

Financial Reporting

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Finance | Marshall: calculating distributable reserves

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

20 Aug 2019

Accounting Standards

Financial Reporting

Image for frc consults draft feedback ifrs 17 pre release amendments

Finance | FRC consults on draft feedback on IFRS 17 pre-release amendments

The Financial Reporting Council (FRC) has released a draft of its proposed responses to IASB’s pre-implementation consultation on complex amendments to IFRS 17 Insurance Contracts even before the standard has been released

19 Aug 2019

Financial Reporting

Audit Consultations

Image for kingfisher faces ps26bn lease liability balance sheet

Finance | Kingfisher faces £2.6bn lease liability on balance sheet

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

16 Aug 2019

Accounting Standards

Financial Reporting

Image for mc saatchi posts one ps64m accounting charge

Finance | M&C Saatchi posts one-off £6.4m accounting charge

Adverting giant M&C Saatchi has revealed accounting issues first identified by external auditor KPMG have forced the company to take a one-off exceptional charge of £6.4m to its 2019 results

13 Aug 2019

Financial Reporting

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Finance | US standard setter set to delay lease accounting rule change

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

13 Aug 2019

Accounting Standards

Financial Reporting

Audit Consultations

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Finance | Consultation on investment property under IFRS for SMEs

The IFRS Foundation has issued a draft Q&A for comment on the application of the IFRS for SMEs standard relating to investment property exemptions on first adoption of the accounting rules

8 Aug 2019

Financial Reporting

Audit Consultations

Image for iasb consults ias 1 focus materiality accounting policy disclosures

Finance | IASB consults on IAS 1 focus on materiality in accounting policy disclosures

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

7 Aug 2019

Accounting Standards

Financial Reporting

Audit Consultations

Image for international reporting amending ifrs 17 insurance contracts

Finance | International reporting: amending IFRS 17 Insurance Contracts

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

30 Jul 2019

Accounting Standards

Image for london businesses worst filing late accounts companies house

Finance | London businesses worst for filing late accounts at Companies House

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

18 Jul 2019

Accounting Standards

Financial Reporting

Law and Regulation

Image for iasb consults ias 12 amend reflect lease accounting rules

Finance | IASB consults on IAS 12 amend to reflect lease accounting rules

The International Accounting Standards Board (IASB) is consulting on changes to the treatment of deferred tax under IAS 12 Income Taxes as a result of IFRS 16 lease accounting rules

18 Jul 2019

Financial Reporting

Audit Consultations

Image for frc amends frs 101 insurance contracts

Finance | FRC amends FRS 101 for insurance contracts

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

15 Jul 2019

Accounting Standards

Financial Reporting

Audit Consultations

Image for international reporting when big standards disappear

Finance | International reporting: when the big standards disappear

After the launch of three critical IFRS on revenue recognition, financial instruments and leases, the IASB is switching its focus to disclosure, taxonomy and a hedging replacement, explains Jeroen Van Doorsselaere, vice president of value propositions at Wolters Kluwer Financial Services

4 Jul 2019

Accounting Standards

Financial Reporting

Image for iasb proposes amendments ifrs 17 insurance contracts

Finance | IASB proposes amendments to IFRS 17 Insurance Contracts

The International Accounting Standards Board (IASB) is consulting on proposed amendments to the Insurance Contracts standard, IFRS 17 before it is even introduced to reduce the costs of implementation and make it easier for companies to explain their financial results after they apply the standard

1 Jul 2019

Financial Reporting

Audit Consultations

Image for iasb plans prioritise intangibles reporting under ifrs

Finance | IASB plans to prioritise intangibles reporting under IFRS

The head of the International Accounting Standards Board (IASB) has set out plans for changes to financial reporting under IFRS to reflect the importance of intangibles reporting, create a stricter definition of operating profit and introduce management performance measures (MPM),

24 Jun 2019

Accounting Standards

Financial Reporting

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