Deloitte's suite of 2018 GAAP manuals out now

Deloitte’s suite of GAAP 2018 manuals are the authoritative guides for preparers and auditors of financial statements for UK companies.

The suite covers UK legal, regulatory and financial reporting requirements (both IFRS and 'new UK GAAP') and provides the most detailed and up-to-date guidance. It combines guidance for companies applying IFRSs or UK GAAP into a single unified publication and provides worked examples and extensive interpretation and guidance – clearly marked – where the Companies Act or accounting standards are silent, ambiguous or unclear.

GAAP 2018 Volume A: UK Reporting - Legal and regulatory framework

This volume sets out the legal and regulatory financial reporting requirements extant at 1 September 2017 for UK entities, irrespective of whether they apply IFRSs or UK GAAP, including coverage of FRS 100 Application of Financial Reporting Requirements and FRS 101 Reduced Disclosure Framework.

Significant changes to these requirements since the previous edition include; the changes to the distributable profits guidance introduced by TECH 02/17 Guidance on realised and distributable profits under the Companies Act 2006, new disclosure requirements arising from the UK implementation of the EU Directive on disclosure of non-financial and diversity information by large companies and groups, and guidance on reporting requirements outside of the annual report.

GAAP 2018 Volume B: UK Reporting - FRS 102

This volume sets out the requirements of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, the main standard which replaced ‘old’ UK GAAP. as at 1 September 2017. The Standard is based on the IFRS for SMEs, a simplified version of full IFRSs, but adapted to ensure compliance with company law requirements in the UK and to accommodate some existing UK GAAP practices by introducing a number of options also available under IFRSs.

This volume also covers FRS 104 Interim Financial Reporting.  The 2018 edition has been updated with extensive additional explanatory material and examples based on practical experience of applying the standard.


GAAP 2018 Volume C: UK Reporting - IFRSs Parts 1 & 2

This volume sets out comprehensive guidance for entities reporting under International Financial Reporting Standards (IFRSs).  It covers all IFRSs other than those dealing exclusively with financial instruments. This volume deals comprehensively with those Standards issued by the IASB up to 1 September 2017 that apply for periods beginning in 2016 and later. It includes guidance on the application of the most recent Standards and Interpretations from the IASB, including IFRIC 22 Foreign Currency Transactions and Advance Consideration and IFRIC 23 Uncertainty over Income Tax Treatments which will affect many companies applying IFRSs.  It also includes a high-level summary of the principal requirements of IFRS 17 Insurance Contracts.

GAAP 2018 Volume D: UK Reporting - IFRS 9 and related Standards

This volume covers IFRS 9 Financial Instruments; IFRS 7 Financial Instruments: Disclosures; IAS 32 Financial Instruments: Presentation; and IFRS 13 Fair Value Measurement. Requirements are based on the text of Standards at 1 September 2017.

IFRS 9 is effective from 1 January 2018, with earlier application permitted. This volume will be of considerable value to preparers who are planning their move to IFRS 9; it will also be useful to other interested parties trying to gain a better understanding of the impact of IFRS 9. The text goes beyond and behind the technical requirements, unearthing common problems, and providing views, interpretations, clear explanations and examples. These enable the reader to gain a sound understanding of the Standards covered and an appreciation of the practical issues likely to be encountered in their implementation.

This edition includes new interpretations and examples of applying the classification and measurement, impairment and hedge accounting requirements of IFRS 9 based on real-life scenarios.


GAAP 2018 Volume E: UK Reporting - IAS 39 and related Standards

This volume covers IAS 39 Financial Instruments: Recognition and Measurement; IFRS 7 Financial Instruments: Disclosures; IAS 32 Financial Instruments: Presentation; and IFRS 13 Fair Value Measurement. Requirements are based on the text of Standards at 1 September 2017.

Although IAS 39 will ultimately be replaced by IFRS 9, IAS 39 will continue to be used in the UK by insurers who have deferred the adoption of IFRS 9 and by UK GAAP reporters that have elected to apply IAS 39. This volume covers all the requirements of IAS 39 that precede IFRS 9. It will therefore be of considerable value to preparers who continue to apply IAS 39 and other interested parties trying to gain a better understanding of the impact of the IFRSs dealing with financial instruments.

The text goes beyond and behind the technical requirements, unearthing common practices and problems, and providing views, interpretations, clear explanations and examples. These enable the reader to gain a sound understanding of the Standards and an appreciation of the practical issues likely to be encountered in their implementation.

GAAP 2018: Model annual report and financial statements for UK listed groups

GAAP 2018 Model annual report and financial statements for UK listed groups provides comprehensive guidance on the presentation and disclosure requirements for company reporting that will apply to listed groups for 2017/18.

An overview of the regulatory framework is provided at the start of the book. This is followed by the narrative statements that are typically found in the ‘front half’ of annual reports. The ‘back half’ of the book contains model financial statements. Detailed commentary is provided throughout outlining the disclosure requirements with cross references to, inter alia, the requirements of International Financial Reporting Standards, the 2006 Companies Act, the Listing Rules, the Disclosure Guidance and Transparency Rules and the UK Corporate Governance Code.

The 2018 edition has been updated to reflect recent changes to reporting requirements.

We have updated the front half of the report to reflect the UK Government enactment of The Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 (SI 2016/1245) which implement the EU NFR Directive. The new sections of the Act require certain companies to include within their strategic report a non-financial information statement and some additional disclosures including those about anti-corruption and bribery matters are required. The EU NFR Directive also requires certain diversity disclosures to be presented. We have also continued to improve the disclosures and commentary based on our surveys and experience, so as to provide the reader with more comprehensive guidance and examples.

The back half of the report has been updated to reflect a number of amendments to IFRSs that are mandatorily effective for accounting periods beginning on or after 1 January 2017. Their adoption has not had any material impact on the disclosures illustrated in this publication.  The disclosures required by IFRS 9 Financial Instruments (as revised in July 2014), IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases, which are issued but not yet effective are illustrated in appendices. This publication includes the parent’s separate financial statements prepared in accordance with FRS 101.  

The author team from Deloitte has a wealth of specialised company reporting experience and has used this to produce practical time-saving examples together with expert commentary.

This book is based on legislation (the Companies Act 2006) and regulation in issue as at 15 October 2017 which is effective for years beginning on or after 1 January 2017. There may be changes to the law or accounting standards subsequent to that date. In addition, the interpretation of IFRSs will continue to evolve over time.

GAAP 2018 Volume F: UK Reporting - IFRS disclosures in practice

This volume, sourced from IFRS accounts from around the world, covers many different areas of the Standards providing real-life examples of good disclosure practice. It is available as an ebook only.

 

 

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