financial reporting Archives - Page 11 of 13 - Whitefield Tax - Isle of Wight Accountants

New FREDs and UK GAAP

by Jessica Garbett | Apr 28, 2015 | ACCA, financial reporting

New standards launched for small entities under £10.2m, with practitioners urged to respond to a related FRC consultation. The FRC has launched a consultation on three Financial Reporting Exposure Drafts (FREDs) that make amendments to UK GAAP and bases them on the...

Charities audit and examination limits

by Jessica Garbett | Apr 21, 2015 | ACCA, financial reporting

The latest changes to audit requirements for charities in England, Scotland and Wales. Changes to the audit requirement for charities in England and Wales have been introduced. The government highlighted that the ‘proposals became “live” to 31 March 2015, meaning that...

Small company limits

by Jessica Garbett | Apr 21, 2015 | ACCA, financial reporting

Details of new threshold limits for small companies. Statutory Instrument 2015 no. 98 The Companies, Partnerships and Group (accounts and reports) Regulations 2015 sets out the new threshold limits. The thresholds for a small company are: Turnover £ Balance sheet...

FRC issues new FREDs streamlining UK GAAP

by Jessica Garbett | Mar 28, 2015 | ACCA, accountancy regulation, financial reporting

The new standards apply if your turnover is under £10.2m. Yesterday (19 February) the FRC launched a consultation on three financial reporting exposure drafts (FREDs) that make amendments to UK GAAP and base them on the FRS 102 framework: FRED 58 Draft FRS 105 The...

GAAP: Accounting for investment properties

by Jessica Garbett | Mar 10, 2015 | ACCA, accountancy regulation, financial reporting

Analysis of how to treat investment properties under FRS 102. Current accounting treatment Under SSAP 19, investment properties are required to be included on the balance sheet at open market value and are not subject to depreciation. The changes in value should not...

GAAP: Small company limit increases in 2015 or 2016?

by Jessica Garbett | Mar 2, 2015 | ACCA, accountancy regulation, financial reporting

Should a company transition to FRS 102 this year, or wait until 2016? Entities qualifying as large or medium-sized under Companies Act 2006 will need to transition to FRS 102 The Financial Reporting Standard Applicable in the UK and the Republic of Ireland for...

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New FREDs and UK GAAP

Charities audit and examination limits

Small company limits

FRC issues new FREDs streamlining UK GAAP

GAAP: Accounting for investment properties

GAAP: Small company limit increases in 2015 or 2016?

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