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All you need on UK Accounting, Reporting & Corporate Governance
  • Accountancy Europe Image
    European Union Image
  • Accountancy Europe responds to the EU fitness check

    17 Jul 2018

    Accountancy Europe has responded to the European Commission’s consultation document 'Fitness check on the EU framework for public reporting by companies'. While the response fully recognises the legitimacy of the Commissions concerns regarding sustainability and long-term investments, Accountancy Europe is not convinced that additional chnages to IFRSs would address these concerns.

  • Corporate Governance  Image
    FRC Image
  • FRC issues new UK Corporate Governance Code

    16 Jul 2018

    The Financial Reporting Council (FRC) has published the new UK Corporate Governance Code together with revised Guidance on Board Effectiveness. The new Code applies for periods commencing on or after 1 January 2019.

  • IASB webcast Image
  • IASB begins webcast series on the FICE DP

    16 Jul 2018

    On 28 June, the IASB published a comprehensive discussion paper DP/2018/1 'Financial Instruments with Characteristics of Equity'. The IASB has now made available the first webcast in a series of web presentations to help stakeholders as they prepare to submit their comments on the discussion paper.

  • IASB meeting (blue) Image
  • Pre-meeting summaries for the July IASB meeting

    16 Jul 2018

    The IASB is meeting on Tuesday 17 and Wednesday 18 June 2018. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed we summarise the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

  • UKGAAP Image
  • PRAG publishes updated SORP for Pension accounting

    12 Jul 2018

    The Pensions Research Accountants Group (PRAG) has published a revised Pensions SORP (Statement of Recommended Practice) 2018 to bring the current guidance in line with the latest version of FRS 102.

  • ASBJ (Accounting Standards Board of Japan) Image
    EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • ASBJ and EFRAG hold joint meeting

    12 Jul 2018

    On 11 July 2018, the Accounting Standards Board of Japan (ASBJ) and the European Financial Reporting Advisory Group (EFRAG) held a joint meeting in Brussels. The meeting was the fourth bilateral meeting between the two bodies.

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  • Governance in brief — FRC issues new UK Corporate Governance Code Image
  • Governance in brief — FRC issues new UK Corporate Governance Code

    published 16 Jul 2018

    The FRC has published the new UK Corporate Governance Code together with revised Guidance on Board Effectiveness. The changes are far-reaching in some areas and reflect the Prime Minister’s broad social reform agenda and desire to restore trust in UK business. The new Code applies for periods commencing on or after 1 January 2019.

  • Thinking allowed — Cryptocurrency: Financial reporting implications Image
  • Thinking allowed — Cryptocurrency: Financial reporting implications

    published 16 Jul 2018

    Cryptocurrencies have attracted the attention of many. From individuals who are interested in Blockchain and related processing activities or who want to invest in them, to retailers, corporate investors and investment funds, securities regulators, the banking sector, the accounting profession and Governments. The idea of a virtual currency that has no links to a jurisdiction and that exists in a public network, maintained on computers operated by a myriad of individuals, was not something that was anticipated when the International Accounting Standards Board (IASB) developed its current set of financial reporting requirements. In this paper we make some observations about cryptocurrencies and the current accounting requirements for those issuing, acquiring or holding cryptocurrency.

  • IFRS on Point — July 2018  Image
  • IFRS on Point — June 2018

    published 13 Jul 2018

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

  • EFRAG endorsement status report 6 July 2018 Image
  • EFRAG endorsement status report 6 July 2018

    published 06 Jul 2018

    The endorsement status report has been updated to reflect that EFRAG has published draft endorsement advice on 'Amendments to References to the Conceptual Framework in IFRS Standards'.

  • 2018 Update on Half Yearly Financial Reporting  Image
  • 2018 Update on Half Yearly Financial Reporting

    published 03 Jul 2018

    The 2018 edition of our popular guide to half-yearly financial reporting contains a regulatory overview, setting out the requirements for half-yearly financial reports and changes for preparers to contend with in 2018, including disclosures on the impact of implementing IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments, a model half-yearly financial report, including illustrative IAS 34 condensed financial statements; and a disclosure checklist.

  • Tablet Image
  • Deloitte e-learning — IFRS 16 (advanced)

    published 29 Jun 2018

    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.

  • Tablet Image
  • Deloitte e-learning — IFRS 16 (basic)

    published 29 Jun 2018

    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.

  • Need to know — Disclosing the new adoption of accounting standards in interim financial statements  Image
  • Need to know — Disclosing the new adoption of accounting standards in interim financial statements

    published 21 Jun 2018

    Both IFRS 9 'Financial Instruments' and IFRS 15 'Revenue from Contracts with Customers' are mandatorily effective for annual periods beginning on or after 1 January 2018. For many entities, the first financial statements reflecting adoption of these significant standards will be an interim report for the six months to June 2018. IFRS 16 'Leases' is also available for early adoption in 2018 financial statements.

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