In the second of a series of articles on the new UK GAAP
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’.
Accounting for goodwill has always been one of the more controversial issues faced by accountants for many years, explains Steve Collings.
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.
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
Just before Christmas the FRC issued its proposals to address poor quality audit work identified in audit quality reviews. Steve Collings offers an initial overview.
The new UK GAAP project has been ongoing for quite a while and the good news is that we are finally nearly there with the whole project, explains Steve Collings.
A study into finance leaders’ attitudes to their company’s data has revealed that one in five are actually assigning a line on the balance sheet for data, assigning a value to it and managing it as
The first two articles in this series considered the reports required to be prepared by the governors’ and the detailed financial statements, explains Steve Collings.