Accounting

Accounting / International reporting: IASB still has much to do

As 2018 draws to a close, Jeroen Van Doorsselaere discusses the long-term plans of the International Accounting Standards Board (IASB), the work it is doing on materiality, and its collaboration with other boards to develop a global common set of standards

Accounting / Recommendations for IFRS 9 expected credit loss disclosures

A specialist taskforce on disclosures about expected credit losses has published ‘stretching’ recommendations for the UK's biggest banks in meeting requirements under IFRS 9 Financial Instruments, which will have a significant effect on how they calculate loan loss provisions

Accounting / European companies lagging on climate change reporting

Less than half (44%) of the largest European companies explain in their management reports how their business models are affected by climate change or environmental challenges, a review of company reporting under the EU’s environmental reporting law has found

Accounting / Charities SORP development process out for review

The Charities SORP Committee is consulting on how best to reform the process for developing the Charities Statement of Recommended Practice (SORP), which sets the accounting framework for charities

Accounting / Charity accounts part 13: recognition of liabilities and commitments

This article, the thirteenth in our series on charity accounts, will focus on accounting for grants payable and provisions for commitments, including performance-related grants and disclosure of grants payable

Accounting / FRC lab to review use of artificial intelligence

The Financial Reporting Council’s (FRC) financial reporting lab is set to release a report on the impact of artificial intelligence (AI) on the future of corporate reporting

Accounting / IFRS 16 Leases: extractives and mining sector - part 8

In part eight of our series on IFRS 16 Leases, Louise Sayers, audit partner and head of natural resources at BDO, examines why it is of particular importance to the extractives and mining sector and what companies should consider when applying the new standard

Accounting / Charity accounts part 12: accounting for grants and receivables

This article, the twelfth in our series on charity accounts, will focus on how to account for the various different types of grant and contract based income that charities receive, including unconditional grants, grant income recognition, claw back and disclosures

Accounting / IASB confirms one-year deferral for IFRS 17

The International Accounting Standards Board (IASB) is proposing a one-year deferral of the effective date for IFRS 17 Insurance Contracts, under which insurance contract liabilities will be calculated as the present value, to 2022

Accounting / Samsung BioLogics accused of accounting violations

South Korea’s financial services regulator has ruled that Samsung BioLogics, the biotech drug arm of Samsung Group, the country’s biggest family-run conglomerate, ‘intentionally violated accounting rules’ and has imposed sanctions on its auditors

Accounting / Standards setters start work on corporate reporting alignment

The Corporate Reporting Dialogue (CRD), a group of major international corporate reporting standard setters and framework providers, has announced a two-year project focused on driving better alignment in the corporate reporting landscape

Accounting / Charity accounts part 11: financial instruments

This article, the eleventh in our series on charity accounts, will focus on how financial instruments are accounted for under FRS 102 SORP, including what disclosures charities are required to make about their basic financial instruments

Accounting / Performance metrics – how to improve reporting

The Financial Reporting Lab has published guidance for companies on ways to improve the presentation of performance metrics in their reporting following criticism from investors about a lack of clarity and transparency

Accounting / PwC called in for forensic review of Yü Group accounts

Yü Group plc has called in PwC to conduct a forensic review following accounting irregularities at the AIM-listed supplier of gas and electricity to UK businesses 

Accounting / Government amends accounting rules in Companies Act for post-Brexit

The government has issued draft legislation to amend the filing exemptions for companies and limited liability partnerships (LLPs) ahead of the UK leaving the EU, but refers to 'exit day'
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