Two leading accountancy bodies have called for company financial statements to be cut by 30%, resulting in more focused information and greater clarity in annual reports.
We extended our accounting period back in 2009 to cover a 17 month period to 30th Nov and filed the statutory accounts covering this 17 month period, as well as the 2 corporation tax returns with
Steve Collings provides this month’s Q&A round-up, looking at revenue recognition and capitalisation of computer software, among other topics.
The problem with financial reporting, particularly for smaller practitioners, is the sheer size of the burden, explains Steve Collings.
Steve Collings considers some frequently asked questions in the areas of tainting rules in IAS 39 and deferred tax implications, among others.
The FAQ include:
Two MPs have written to RBS demanding an explanation of its use of International Financial Reporting Standards (IFRS) to distort its financial position by up to £25bn.
One of the tasks faced by the Accounting Standards Board (ASB) in their convergence to an international-based financial reporting framework, notably the Financial Reporting Standard for Mid-Siz
This month should see the IASB introduce a ‘package’ of five new international financial reporting standards (IFRS) relating to consolidation, joint ventures and disclosures.
The Companies Act 2006 (CA06) now requires medium-sized groups to prepare consolidated (group) accounts.
The Accounting Standards Board (ASB) of the FRC has put forward proposals to stimulate action on creating clarity and transparency of annual corporate reporting.