Accounting standards

IFRS

Accounting | FRC releases 2023 suite of taxonomies for accountants

The Financial Reporting Council (FRC) has published the 2023 suite of FRC Taxonomies with changes affecting all accounting standards

24 Oct 2022

Accounting | PRAG updates derivative guidance

The Pensions Research Accountants Group (PRAG) has published updated guidance to help practitioners of pension scheme accounts deal with the wide range of derivative contracts which feature in manager portfolios

5 Oct 2022

Accounting | Do SMEs need to report on ESG?

Donna Stofberg ACA considers the current requirements for environmental, social and governance (ESG) reporting in the UK and how small companies and micro-entities can play their part in working to achieve net zero goals

5 Oct 2022

Accounting | Sustainability standards need to be more scalable, says ISSB

The International Sustainability Standards Board (ISSB) plans to revisit parts of the proposed sustainability standards to ensure they are more scalable for businesses

27 Sep 2022

Accounting | Call for better disclosure under IAS 12 Income Taxes

Companies need to pay more attention to the quality of disclosures about deferred tax treatment to give more clarity to investors

21 Sep 2022

Accounting | Regulator calls for unified approach to climate reporting

The Financial Stability Board (FSB) has flagged progress on the creation of International Sustainability Standards in its first annual progress report on climate-related financial risks

14 Jul 2022

Accounting | Accounting for critical judgments under IAS 1

Critical judgments are frequently raised as an issue by the Financial Reporting Council in its annual Corporate Reporting Reviews as they are not clearly identified or explained. Rachel Farris FCA CTA, Croner-i, summarises the requirements around judgments set out in IAS 1

6 Jul 2022

Accounting | CPD module: accounting for cryptocurrencies

In this month’s exclusive Accountancy Daily CPD module we consider the key issues to consider when accounting for cryptocurrency, from accounting standard selection to valuations

4 Jul 2022

Accounting | The practicalities of transitioning to FRS 102

Steve Collings FCCA looks at transitioning to FRS 102, with a focus on the process, transitional adjustments, opening balance sheets, plus practical examples

29 Jun 2022

Accounting | SASB prepares for merger with sustainability standards board

The Sustainability Accounting Standards Board (SASB) will transfer all open standard-setting projects to the International Sustainability Standards Board (ISSB) by the end of June

22 Jun 2022

Accounting | IFRS 17 will hit public sector risk adjustments

The Government Actuary’s Department (GAD) is working with government departments and public sector organisations to clarify the new insurance reporting requirements

10 Jun 2022

IFRS

Accounting | IFAC calls for simplified approach to sustainability standards

Concerns about potential complexity of new sustainability standards has seen capital markets groups and accountants join forces to call for a simplified approach

7 Jun 2022

Accounting | FRC concludes FRS 101 review without changes

The Financial Reporting Council (FRC) has issued Amendments to Basis for Conclusions FRS 101 Reduced Disclosure Framework 2021/22 cycle

23 May 2022

UK GAAP

Accounting | Sustainability standard baseline by late 2022

The International Sustainability Standards Board (ISSB) has outlined the necessary steps required to establish a comprehensive global baseline of sustainability disclosures by the end of 2022

19 May 2022

Accounting | FRC tips on improving complex discount rate reporting

The Financial Reporting Council (FRC) has published a review of the use and problems related to accounting for discount rates, including dealing with complexity

18 May 2022