Accounting

Accounting / Why charity accounts should tell the story better

Transparent financial reporting in annual charity accounts produces more meaningful information and underpins their long-term stability, but how do you achieve this? Jonathan Orchard, partner, Sayer Vincent examines the key issues to consider when finalising charity accounts

Accounting / Charity Commission and ACCA sign referral agreement

The Charity Commission has signed an agreement with ACCA allowing the regulator to refer cases of poor professional practice by accountants and finance professionals to the professional body, the first such arrangement in the accountancy sector

Accounting / IASB amends IAS 1 to clarify debt classification

The International Accounting Standards Board (IASB) has issued limited amendments to IAS 1 Presentation of Financial Statements to clarify how to classify debt and other liabilities as current or non-current, to promote greater consistency

Accounting / TheWorks faces £300k tax bill over import duty

FTSE listed discount stationery retailer TheWorks has warned it is facing a potential tax bill following an HMRC investigation into the use of zero rated import duty

Accounting / Ted Baker inventory error swells to £58m

Fashion retailer Ted Baker has revealed its inventory has been overstated by £58m, following an independent review by Deloitte, almost three times the amount originally estimated

Accounting / Dixons Carphone admits ‘clerical error’ in trading update

FTSE 250 electronics retailer Dixons Carphone has been left red-faced after being forced to issue a correction to its latest trading update, explaining its sales had decreased and not increased as it originally reported

Accounting / Guernsey overhauls corporate insolvency rules

Guernsey is to reform its insolvency laws to create a more effective corporate insolvency regime with more accountability for directors

Tax / Tax transparency essential to tackle $600bn avoidance bill

Businesses need to provide more transparent reporting on tax to give shareholders and the public a better understanding of their tax policy and wider contribution to society

Accounting / Carillion collapse creates hospital cost overruns

One year on from the collapse of Carillion, the National Audit Office (NAO) has published a report revealing substantial cost and time overruns on progress on two hospitals which the outsourcer was building at the time

Accounting / International reporting: 2020 and beyond

With the International Accounting Standards Board (IASB) focusing on disclosures, management commentary and improving the quality of financial reporting in 2020, Jeroen Van Doorsselaere examines the IFRS standard setter’s work plan

Accounting / Government fails to monitor £17bn spend on business support schemes

The government is spending £17bn a year on dozens of schemes to support business, but its activities are poorly co-ordinated and overly complex, meaning it cannot clearly demonstrate which schemes deliver value for money

Accounting / MoD’s financial blunder costs taxpayer £1.35bn

The National Audit Office (NAO) has criticised the Ministry of Defence (MoD) for poor financial management of three critical infrastructure projects on its nuclear-regulated sites

Accounting / Carey: boards need to improve corporate governance reporting

Anthony Carey, partner and head of board practice at Mazars, assesses the FRC annual review of UK Corporate Governance Code at FTSE companies

Accounting / Accounting filing deadlines: Jan-Mar 2020

The key accounting filing deadlines for the next quarter including private company accounts year ends for 31 March 2019, plus how to extend the deadline

Tax / UK financial services pays record £75.5bn taxes

The UK financial services sector handed over £75.5bn in taxes last year, a shade more than the previous year’s record total, but corporation tax receipts have declined for the first time in five years, according to a report published by the City of London Corporation
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