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All you need on UK Accounting, Reporting & Corporate Governance
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  • New and revised pronouncements as at 30 September 2016

    23 Sep 2016

    Our popular summary of new and revised financial reporting requirements, updated for financial reporting periods ending on 30 September 2016. This listing can be used to perform a quick check that new financial reporting requirements such as new and revised accounting standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process. We have highlighted the IASB mandatory adoption dates as well as those dates for which application is mandatory within the EU. Where an EU entity chooses to prepare financial statements in accordance with IFRSs as issued by the IASB, as well as in compliance with IFRSs as adopted by the EU, that entity should comply with the earlier IASB effective date for those items. The information below can also be used to assist with the disclosure requirements under paragraph 30 of IAS 8 'Accounting Policies, Changes in Accounting Estimates and Errors', which requires entities to disclose any new IFRSs that are in issue but not yet effective and which are likely to impact the entity. For accounts approved after December 2016, please also refer to subsequent versions of this document for any new and revised IFRSs that have additionally been issued that might require disclosure in the accounts under IAS 8:30.

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  • IASB publishes editorial corrections

    21 Sep 2016

    The IASB has published a batch of editorial corrections that impact consequential amendments, stand-alone standards, and the IASB's “Blue Book”, "Red Book", and "Green Book".

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  • A Guide through IFRS 2016 ('Green Book') is now available

    20 Sep 2016

    The IFRS Foundation has announced that '2016 A Guide through IFRS Standards' is now available. This volume (nicknamed the 'Green Book') includes the full text of the Standards and Interpretations and accompanying documents (such as the Basis for Conclusions) issued by the IASB as of 1 July 2016 with extensive cross-references and other annotations. This edition does not contain documents that are being replaced or superseded but remain applicable if a reporting entity chooses not to adopt the newer versions early.

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  • AcSB submits paper for ASAF discussion of rate regulation

    19 Sep 2016

    During the upcoming meeting of the Accounting Standards Advisory Forum (ASAF) at the IASB's offices in London on 29 September 2016, members will discuss rate-regulated activities. The Canadian Accounting Standards Board (AcSB) has submitted a paper on 'Results of research on the decision-usefulness of financial information that reflects the economics of rate-regulated activities' for the discussion.

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  • EFRAG endorsement status report 21 September 2016 Image
  • EFRAG endorsement status report 21 September 2016

    published 22 Sep 2016

    This endorsement status report update reflects that EFRAG has come to some slightly changed estimates regarding when final endorsement of certain pronoucements for use in the European Union is to be expected.

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  • EPRA Annual Report Survey 2015/16

    published 16 Sep 2016

    This survey comprises a review of 117 annual reports from leading listed real estate companies across Europe to assess compliance with the European Public Real Estate Association’s (EPRA's) Best Practices Recommendations (BPR), last updated in December 2014.

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  • Deloitte e-learning — IFRS 16 (advanced)

    published 16 Sep 2016

    This Deloitte e-learning module provides training in the background, scope and principles under IFRS 16 'Leases', and the application of this standard. This e-learning builds on the 'IFRS 16 Leases (basic)' e-learning module. In this module, you will deeper dive into the key principles of lease accounting and learn about areas of potential judgment in applying IFRS 16.

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  • Deloitte e-learning — IFRS 16 (basic)

    published 16 Sep 2016

    This Deloitte e-learning module provides training in the background, scope and principles under IFRS 16 'Leases', and the application of this standard. In this e-learning module you will learn about how to identify whether a contract is within the scope of the standard and the key principles of lease accounting.

  • Deloitte comment letter on proposed amendments to the IFRS Foundation Constitution Image
  • Deloitte comment letter on proposed amendments to the IFRS Foundation Constitution

    published 15 Sep 2016

    We (i) support the proposal to have three geographical regions to be used throughout the IFRS Foundation when determining the distribution of Trustees and the IASB and other appointments, (ii) disagree with the proposal to reduce the size of the IASB from 16 to 13 members, (iii) do not support reducing the number of meetings of the Advisory Council from three meetings per year to two, and (iv) encourage the IFRS Foundation Trustees to act much more as a body of non-executive directors.

  • EFRAG endorsement status report 12 September 2016 Image
  • EFRAG endorsement status report 12 September 2016

    published 13 Sep 2016

    This endorsement status report update reflects that the International Accounting Standards Board (IASB) published 'Applying IFRS 9 'Financial Instruments' with IFRS 4 'Insurance Contracts'' on 12 September 2016. It also offers an updated estimation regarding the timing of EFRAG's draft and final endorsement advice on IFRS 16 'Leases'.

  • IFRS on point — August 2016 Image
  • IFRS on point — August 2016

    published 08 Sep 2016

    IFRS on Point, published at the end of each month, highlights critical IFRS-related financial reporting developments

  • Governance in brief — Cyber risk: how are boards responding? Image
  • Governance in brief — Cyber risk: how are boards responding?

    published 01 Sep 2016

    This edition of Governance in brief explores the findings of the Government’s third annual UK Cyber Governance Health Check and shares some ideas on questions directors can use to determine how ready the company is to meet cyber risk challenges.

  • Thinking Allowed — The new lease accounting Image
  • Thinking Allowed — The new lease accounting

    published 31 Aug 2016

    This publication explains the new requirements and gives you some tools for assessing how your financial statements are likely to be affected. It identifies the areas where accounting judgement will be required—mainly around identifying whether you have a lease or a service agreement, or both; renewal options; and determining the discount rate, particularly on property leases.

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