In the current version of UK GAAP taxation is dealt with in two accounting standards: FRS 16 Current Tax and FRS 19 Deferred Tax, explains Steve Collings.
Steve Collings
This is the fourth in a series of articles that considers the accounting and disclosure requirements contained in FRS 102 'The Financial Reporting Standard applica
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Steve Collings continues his exploration of FRS 102 with detailed advice on some of the challenges accountants will face when moving to the new standard for the first time.
Preparing accounts for LLPs can be perceived as being tricky to some practitioners, owing to the newness of their 10-year existence.
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At its board meeting on 5 March 2013, the Financial Reporting Council (FRC) finally approved FRS 102 ‘The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland’.
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Accounting for goodwill has always been one of the more controversial issues faced by accountants for many years, explains Steve Collings.
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Auditors will be required to warn investors about risks of “material misstatements” in clients’ financial accounts under proposals made by the Financial Reporting
It is not uncommon to hear of companies purchasing their own shares from shareholders, explains Steve Collings.
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The accounting for fixed assets is, in many cases, a straightforward exercise, but it isn’t always so when it comes to the issue of intangible fixed assets and rec
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