Accounting standards

Accounting | Sustainability Standards Board operational from June

Plans to finalise the International Sustainability Standards Board are going ahead with the IFRS Foundation telling COP26 delegates that the new standard setter would be set up by June 2022 based in Frankfurt

3 Nov 2021

Accounting | Impairment of assets under IAS 36

Sarah Baxendale FCA explains impairment accounting for entities applying IAS 36 Impairment of Assets, how to apply the standard and the frequency of assessments

5 Oct 2021

Accounting | Accounting for tax under IAS 12 Income Taxes

Rachel Farris FCA CTA, senior accounting writer at Croner-i, identifies two significant issues for businesses to consider when accounting for current and deferred tax under IAS 12 Income Taxes (IAS 12) – Covid-19 related impacts and climate-related risks

29 Sep 2021

Accounting | XBRL taxonomy for sustainability standards released

The Value Reporting Foundation has released an XBRL taxonomy for Sustainability Accounting Standards Board (SASB) standards to integrate the standards into the common language for business reporting

28 Sep 2021

Accounting | IFRS 13: fair value disclosures in practice

Sarah Baxendale FCA looks at the impact on presentation and disclosure as a result of applying IFRS 13 Fair Value Measurement and the fair value principles in IFRS standards

4 Aug 2021

Accounting | FRS 102 & 105: impairment of assets - CPD module

In this month's exclusive Accountancy Daily CPD module, we focus on the accounting requirements for asset impairment covering the scope of FRS 102 and FRS 105, look into the specific requirements for the repairment of inventories and other assets, and then into goodwill and the reversal of impairment losses

2 Aug 2021

Accounting | FRC publishes report on Section 172 statements

The Financial Reporting (FRC) Lab has published its latest overview on reporting on stakeholders’ decisions, and Section 172 statements which outlines what investors want to see reported in these areas and provides examples from current reporting practice

20 Jul 2021

Accounting | A4S launches sustainability reporting guide

Accounting for Sustainability (A4S) has compiled a guide of the current 614 sustainability reporting requirements for 84 different countries to aid financial professionals with their sustainability and environmental, social, and governance (ESG) reporting

20 Jul 2021

Accounting | Impairment of assets for small entities under FRS 102

Steve Collings FMAAT FCCA explains impairment accounting and disclosure for small entities applying FRS 102:1A and the impact on the balance sheet

14 Jul 2021

Accounting | Accountancy profession needs to emphasise risk management

The accountancy profession needs to step up and drive adoption of enterprise risk management (ERM) to avert risk, says Association of Chartered Certified Accountants (ACCA)

8 Jul 2021

Accounting | IAS 37 and contingency reporting amidst Covid-19

Accounting under IAS 37, Provisions, Contingent Liabilities and Contingent Assets will have to consider the impact of covid-19 when preparing accounts, explain Steve Collings FCCA and Rachel Farris FCA, accounting and audit writer, Croner-i

30 Jun 2021

Accounting | FRC extends application period for accounting for Covid-19 related rent concessions

The Financial Reporting Council (FRC) has issued amendments to FRS 102 and FRS 105 – Covid-19-related rent concessions beyond 30 June 2021

10 Jun 2021

Accounting | FRS 102 & 105: Property, plant and equipment - CPD module

In this month's exclusive Accountancy Daily CPD module, we focus on the accounting treatment of property, plant and equipment under FRS 102 and FRS 105

2 Jun 2021

Accounting | FRC issues minor amends to FRS 101

The Financial Reporting Council (FRC) has issued minor amendments to FRS 101 – 2020/21 cycle, which brings to a close the 2020/21 annual review of FRS 101 Reduced Disclosure Framework

24 May 2021

UK GAAP

Accounting | Charity accounts: recognising grant income

Helena Wilkinson BSc DChA FCA and Iain Storey FCA at Price Bailey LLP explain the accounting for grant income in charities and consider grants subject to conditions or restrictions

5 May 2021