Change of Accounting Period

Change of Accounting Period

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The company I am preparing statutory accounts for has changed its year end from 31 March to 31 December.

The last filed accounts were prepared for the year to 31 March 2000. I am now preparing accounts for the 9 months to 31 December 2000.

What comparisons should I be showing in the statutory accounts? The 9 months to 31 March 2000? The 9 months to 31 December 1999? The 12 months to 31 March 2000?

Thanks for your help.
Nancy Faulkner

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By Accounting WEB
16th Mar 2001 08:20

Change of accounting period
The comparison should be 12 months ended 31 March 2000. However, under IAS 1 additional disclosures are needed if accounts are prepared for a period other than one year. Additional disclosures are i) the reason for a period other than one year being used; ii) the fact that comparative amounts are not comparable.

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aw_logo_2019
By Accounting WEB
14th Mar 2001 20:09

Year to 31 March 2000
Your will also disclose the change in accounting date in the accounts via the directors report/notes to the accounts,...etc.
The headings on the pages will also refer to the new period e.g. P and L 9 mths to 31 Dec 2000...

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