Any Answers answered: UK GAAP VS. IFRS. By Steve Collings

Colleen Walker asks in ‘Any Answers’ what the differences are between financial reporting under UK GAAP and IFRS. My initial answer to this (frequently asked) question is “not a lot”. The reason is that financial reporting under UK GAAP has more or less followed that of IFRS as it has always been the intention that the UK will report fully under IFRS eventually.

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