financial reporting Archives - Page 13 of 14 - Whitefield Tax - Isle of Wight Accountants

LLP SORP revised

by Jessica Garbett | Nov 15, 2014 | ACCA, accountancy regulation, financial reporting

The LLP SORP was issued on 14 July 2014, and is effective for periods beginning on or after 1 January 2015, though early adoption is permitted. The new SORP no longer uses the old references to UK GAAP, but instead uses the terminology of FRS 102. When the new SORP...

Charities SORP revised

by Jessica Garbett | Nov 15, 2014 | ACCA, accountancy regulation, financial reporting

Charities SORP 2005 has been replaced by two new Charities SORPs. One of these is based on the FRSSE 2015, for use by charities that choose to adopt it and qualify as small under the Companies Act 2006. The other is based on FRS 102 and is for any size of charity. The...

The dawn of the new UK GAAP – requirements and options

by Jessica Garbett | Nov 12, 2014 | ACCA, accountancy regulation, financial reporting

The era of the new UK GAAP begins on 1 January 2015 and for many will change again from 1 January 2016. Reporting entities have to choose which of the reporting standards that they are allowed to adopt is best suited to their circumstances. For accounting periods...

Consultation on audit exemption

by Jessica Garbett | Oct 13, 2014 | ACCA, accountancy regulation, business issues, financial reporting

The government is consulting on the implementation of the EU Accounting Directive proposed changes to the audit exemption provisions in Companies Act. The Department for Business, Innovation and Skills (BIS) has launched a consultation on the implementation in the UK...

New UK GAAP: deferred tax

by Jessica Garbett | Aug 10, 2014 | ACCA, financial reporting

FRS 102 and new UK GAAP are getting closer with the implementation date of 1 January 2015 now less than six months away. Changes could impact on profits and net assets. It is important to get to grips with the main areas that will change under the new GAAP. Apart...

Tax implications of the new UK GAAP

by Jessica Garbett | Aug 4, 2014 | ACCA, business issues, financial reporting, HMRC

Businesses should be readying themselves for the transition to the new UK GAAP. Here we look at the main tax changes that will arise. Overview As things stand at the moment, entities are faced with quite a choice, when deciding which standard will be followed while...

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LLP SORP revised

Charities SORP revised

The dawn of the new UK GAAP – requirements and options

Consultation on audit exemption

New UK GAAP: deferred tax

Tax implications of the new UK GAAP

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