Accounting

Accounting / FRC tells companies to improve IFRS 16 Leases disclosures

Companies applying the new standard on lease accounting are not providing sufficient information on its impact, according to the Financial Reporting Council’s (FRC) review of the first year of implementation of IFRS 16 Leases

Accounting / Nikkei hit by $29m transfer fraud

Japanese media giant Nikkei, which owns the Financial Times, has admitted it has been the victim of a $29m (£22.4m) money transfer fraud

Accounting / 10-year ban for ex-BHS director Dominic Chappell

Former BHS director Dominic Chappell has been disqualified for 10 years, and his father given a five-year ban, following an Insolvency Service investigation into a series of financial dealings involving the retail chain

Accounting / MPs invite 30,000 citizens to climate change assembly

Invitation letters will be sent out this Wednesday to thousands of members of the public asking the them to strategise how the UK will reach zero emissions

Accounting / Dividends and distributable profits: part 5

In the fifth in our dividends series, Croner-i tax and accounting writer David Duvall FCA looks in detail at issues relating to realised profits and losses

Accounting / College accounts direction updated for 2018-19

The Education and Skills Funding Agency (ESFA) has issued the 2018-19 college accounts direction setting out financial reporting requirements for sixth form and further education colleges

Tax / Goals Soccer Centre accounting loss balloons to £40m

Troubled Goals Soccer Centre, which de-listed from AIM earlier this year following the discovery of irregularities in its accounts, has now admitted the profits of the business may have been overstated by as much as £40m since 2009

Accounting / Accounting updates: November 2019

This month’s roundup includes FRC’s revised Stewardship Code, MPs grill auditors over Thomas Cook failure, climate change reporting, concerns raised on revenue recognition disclosures, FRC consults on future of company reports and CIPFA calls for fundamental shift in local government financial reporting

Accounting / Legal updates: November 2019

In this month’s legal updates, Sophie Brookes, partner at law firm Gateley plc, considers whether an automatic email signature can act as a real signature, whether the actions of a company’s members were vexatious, and whether legal professional privilege can be lost when a company dissolves

Accounting / International reporting: dynamic risk, disclosures and financial reporting

Improving the quality of risk management and disclosure is a priority for the International Accounting Standards Board (IASB) and revising IAS 32 is central to its plans for 2020. Jeroen Van Doorsselaere examines the priorities

Accounting / CIMA updates accountants' code of ethics

CIMA has revised its code of ethics in response to the challenges of digital businesses and the impact of emerging technologies, effective from 1 January 2020

Accounting / FRC wants corporate reporting improvements to increase trust

The FRC (Financial Reporting Council) has written to all audit committee chairs and finance directors, following its annual review of corporate reporting, calling for improvements in order to enhance public trust in business and ensure companies address the issues which matter for investors

Accounting / FTSE 100 strengthens reporting on company values

Greater responsiveness to shareholder concerns and climate change worries, along with the impact of Brexit, featured strongly in FTSE 100 annual reports this year, according to analysis from Deloitte

Accounting / Dividends and distributable profits: part 4

The payment of dividends can be a difficult area with even listed companies falling foul of the law in recent years. In the fourth of eight articles, Croner-i tax and accounting writer David Duvall takes a detailed look at realised profits and losses

Accounting / FRC launches revised ‘green’ UK stewardship code

The Financial Reporting Council (FRC) has published a revised UK Stewardship Code, widening the scope to include pension funds and insurers, and adding new annual reporting requirements
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