Accounting

Accounting / London businesses worst for filing late accounts at Companies House

London and Birmingham are the worst areas in the country for filing accounts late with over 200,000 UK companies facing fines for non-compliance for missing the Companies House deadline

Accounting / IASB consults on IAS 12 amend to reflect lease accounting rules

The International Accounting Standards Board (IASB) is consulting on changes to the treatment of deferred tax under IAS 12 Income Taxes as a result of IFRS 16 lease accounting rules

Accounting / FRC consults on FRS 102 hedge accounting amend

The Financial Reporting Council (FRC) is consulting on amendments to hedge accounting under FRS 102 to reflect changes to interest rate benchmarks

Accounting / FRC amends FRS 101 for insurance contracts

The Financial Reporting Council (FRC) has issued an amendment to FRS 101 reduced disclosure framework as part of its annual review, to address a conflict with the new insurance contracts standard

Accounting / AIM listed Renold finds £1.8m accounting error

Renold, an industrial equipment supplier, has postponed its AGM scheduled for 17 July after the company discovered a £1.8m accounting black hole in its gears business unit

Accounting / Third of councils ‘at risk of financial failure’

Grant Thornton has teamed up with CIPFA to develop a financial foresight model to help local authorities understand and test their long-term financial sustainability

Accounting / Eddie Stobart Logistics delivers accounting concerns

Eddie Stobart Logistics, the UK supply chain, transport and logistics group, has warned it faces a £2m cut in its previously reported income, after a review conducted by its new CFO identified accounting issues

Accounting / Triennial review: FRS 102 (2018) and net debt reconciliation – part 4

In the final part of our series on FRS 102 (2018), James Waller CA, technical writer at Croner-i, explains the treatment of a net debt reconciliation where a company, LLP or charity, includes a cash flow statement

Accounting / International charity trustees ignore safeguarding risks

The trustees of international UK charities need to focus more on the risks associated with safeguarding and the impact of Brexit, which are being neglected in favour of a concentration on future funding and financial sustainability, according to research from Haysmacintyre

Accounting / Domestic UK corruption risks overlooked

Unchecked conflicts of interest and austerity mean corruption risks for UK businesses are increasing, but these dangers are being overlooked because of a focus on overseas bribery cases, warns Fraud Advisory Panel (FAP)

Accounting / Companies House changes late filing penalty appeal process

Companies House has updated the guidance on how it assesses penalty appeals made by businesses for the late filing of accounts, with the changes coming into effect from 1 October

Accounting / International reporting: when the big standards disappear

After the launch of three critical IFRS on revenue recognition, financial instruments and leases, the IASB is switching its focus to disclosure, taxonomy and a hedging replacement, explains Jeroen Van Doorsselaere, vice president of value propositions at Wolters Kluwer Financial Services

Accounting / Accounting deadlines: Jul-Sep 2019

The key accounting deadlines to end September 2019 for accounts of private companies for periods ending 31 December 2018, and for public companies with periods ending 31 March 2019, plus details of open consultations on investment reporting, auditing standards and IFRS 17 amends 

Accounting / FRS 102: liabilities vs equity - NEW CPD module

This month’s exclusive Accountancy Daily CPD module will look at the FRS 102 accounting treatment of liabilities versus equity

Accounting / Charity regulator investigating funds at unregistered organisation

The Charity Commission is to investigate the funds raised by an unregistered organisation, Sikh Youth UK, as the money is classed as being charitable and there have been warnings over financial management
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