Accounting standards

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 / 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 / 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 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 / 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 / Accounting updates: July 2019

In this month’s accounting updates Morgan review calls for charity reporting shake up, Crown Dependencies plan beneficial ownership register, EU plans to simplify company registrations and senior accounting officer (SAO) fines jump 22%

Accounting / FRC picks up reporting problems in half of annual reports reviewed

The Financial Reporting Council (FRC) has flagged the annual reports and accounts of over half the listed companies examined by the quarterly Corporate Reporting Review (CRR) team, including Air Partners, Interserve and Metro Bank

Accounting / WBSCD and AICPA-CIMA to develop sustainable reporting measures

The World Business Council for Sustainable Development (WBCSD) and the Association of International Certified Professional Accountants (the Association) have announced their first joint project to set sustainable performance management measures to improve corporate reporting

Accounting / IASB plans to prioritise intangibles reporting under IFRS

The head of the International Accounting Standards Board (IASB) has set out plans for changes to financial reporting under IFRS to reflect the importance of intangibles reporting, create a stricter definition of operating profit and introduce management performance measures (MPM), 

Accounting / Financial disclosures on climate change lack clarity

As climate change pushes to the top of the agenda, more businesses are including climate-related information in their financial disclosures, but are still failing to provide sufficient clarity for investors, says TCFD

Accounting / Charity accounting needs radical overhaul, says Morgan review

Charity reporting and accounting needs to be overhauled to provide more transparency and accountability on financials and to simplify the reporting process for the smallest charities, says Charity SORP review panel, chaired by professor Gareth Morgan

Accounting / European single electronic format for financial statements mandated

The European Commission has issued rules requiring all listed companies across EU member states who report under IFRS to submit their annual financial statements digitally as iXBRL documents from 1 January 2020

Accounting / International reporting: financial instrument valuations

Proposed changes to IFRS 9 Financial Instruments over alternative reference rates focus on a smooth transition, while discussions on performance measures show the IASB faces criticism for being too prescriptive, finds Jeroen Van Doorsselaere, vice president of value propositions at Wolters Kluwer Financial Services
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