financial reporting Archives - Page 6 of 14 - Whitefield Tax - Isle of Wight Accountants

Preparing and filing FRS 105 accounts

by Jessica Garbett | Apr 19, 2018 | ACCA, financial reporting

A look at the most common errors and misunderstandings. Accounts prepared under FRS 105 are now an accepted and popular option for micro-entities. However, there are a number of important points about their preparation and how the information is filed at Companies...

When audit thresholds can be confusing

by Jessica Garbett | Oct 23, 2017 | ACCA, financial reporting

The audit thresholds for limited companies changed from 1 January 2016 – and can be confusing for companies. The statutory instrument implementing the 2013 EU Accounting Directive effective in the UK from 1 January 2016 has changed the audit thresholds for...

When unincorporated businesses can apply FRS 105

by Jessica Garbett | Oct 12, 2017 | ACCA, financial reporting

FRS 105 can be applied by unincorporated businesses who meet the size criteria. Although FRS 105 states that it’s only applicable to companies, qualifying partnerships (as defined in Partnerships (Accounts) Regulations 2008) and limited liability partnerships who...

Charities under scrutiny – trustees and auditors

by Jessica Garbett | Sep 29, 2017 | ACCA, business issues, financial reporting

Charity reporting is under scrutiny, especially the obligations placed on trustees and auditors. These include: the recent review by the Charity Commission of 97 charities showed that 45 were not compliant with the SORP and that trustees were under scrutiny the...

Charity audits under review

by Jessica Garbett | Jul 31, 2017 | ACCA, financial reporting

FRC asks for comments on proposed changes that reflect developments in legislation and regulation The Financial Reporting Council (FRC) has asked for comments on its proposed revisions to Practice Note 11: The audit of charities in the United Kingdom, by 25 August. It...

Demystifying interest-free and below-market-rate loans

by Jessica Garbett | Jul 17, 2017 | ACCA, financial reporting

Terms vary depending on the nature of the finance and the recipient The accounting recognition for interest-free and below-market-rate loans is an area that has caused difficulty for many advisers and businesses. Most loans are basic financial instruments accounted...

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Preparing and filing FRS 105 accounts

When audit thresholds can be confusing

When unincorporated businesses can apply FRS 105

Charities under scrutiny – trustees and auditors

Charity audits under review

Demystifying interest-free and below-market-rate loans

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