financial reporting Archives - Page 12 of 14 - Whitefield Tax - Isle of Wight Accountants

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...

New UK GAAP – an overview

by Jessica Garbett | Feb 23, 2015 | ACCA, accountancy regulation, financial reporting

2015 is the year that the old financial standards and guidance from the Financial Reporting Council are replaced by new UK GAAP. Accounts for periods beginning on or after 1 January 2015 must be prepared using the new Standards and the current FRSs, SSAPs, UITF...

How and when to apply FRS 101

by Jessica Garbett | Nov 27, 2014 | ACCA, accountancy regulation, financial reporting

1 January 2015 is rapidly approaching, and after the many months of talking about it, UK GAAP will finally change. From 1 January 2015, all the existing FRSs, SSAPs and UITF abstracts will be obsolete, and in their place will stand FRS 102 and FRSSE 2015, with the...

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Small company limits

FRC issues new FREDs streamlining UK GAAP

GAAP: Accounting for investment properties

GAAP: Small company limit increases in 2015 or 2016?

New UK GAAP – an overview

How and when to apply FRS 101

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