Accounting standards

Accounting / Dividends and distributable profits: part 1

In the first article in an eight-part series, Croner-i tax and accounting writer David Duvall FCA considers why the payment of dividends can be a difficult area with major listed companies falling foul of the law in recent years. Here we focus on the legal and regulatory framework and the restrictions on making distributions

Accounting / International reporting: IFRS 3 disclosures on mergers and IBOR

The IASB has begun a review of its business mergers’ standard, IFRS 3, while grappling with the impact of changes to interest rate benchmarks. Jeroen Van Doorsselaere outlines the impact on disclosures and transparency

Accounting / Accounting updates: October 2019

This month’s roundup of accounting stories includes EY’s resignation from Datalex over accounting irregularities, FRC’s no-deal Brexit advice, accounting scandal-hit Goals Soccer Centre up for sale, overhaul of charity SORP committee, and EFRAG’s crypto-currency consultation

Accounting / PASA publishes guidance on GMP pension equalisation

The cross-industry GMP Equalisation Working Group launched by The Pensions Administration Standards Association (PASA), has published a guidance note outlining methods that schemes can use to equalise pensions to address the sex-based inequalities of Guaranteed Minimum Pensions (GMPs)

Accounting / IASB amends hedge accounting standard for IBOR changes

The International Accounting Standards Board (IASB) has amended hedge accounting rules under IAS 39 to ensure companies continue to provide useful financial information on interbank rates as IBOR is phased out as a measure

Accounting / Public sector accounting and IPSAS 42 Social Benefits

The International Public Sector Accounting Standards Board (IPSASB) has issued a new standard, IPSAS 42 Social Benefits, setting out defined rules on how to account for pensions, unemployment benefits and other major public sector expenditure, in a bid to improve transparency in the accounts. Alan Bermingham, policy manager – governments at CIPFA, examines the recognition and measurement points

Accounting / Treasury consults on public sector financial reporting rules

The Treasury is consulting on revisions to the government financial reporting manual (FReM) to improve the quality and transparency of public sector annual reports

Accounting / Accounting filing deadlines: Sep - Dec 2019

The key accounting deadline is 30 September for annual returns for private companies for periods ending 31 December 2018, and for public companies with periods ending 31 March 2019 to be filed at Companies House, while December marks year end reporting for academy school trusts

Accounting / EFRAG launches crypto-assets research to tighten accounting rules

The European Financial Reporting Advisory Group (EFRAG) is seeking input from crypto-assets experts, as part of a research project looking to address current gaps in accounting standards

Accounting / Companies handed 223k penalties for late filing accounts

Thousands of penalties for late filing of company accounts were handed out in 2018 with more than 25,000 companies missing the 30 September deadline

Accounting / Top 10 tips for filing year-end accounts – part 2

The filing deadline for private companies with a December year end and public companies with a March year end is 30 September. Michelle Roberts ACA, senior technical writer, audit & accounting, at Croner-I provides essential advice on how to file FRS 102 year-end accounts to avoid unwanted penalties

Accounting / Overhaul of charity SORP committee sees change of membership

There is to be a major overhaul of the way the charity accounting rules under the Charity SORP framework are developed with a new, smaller SORP committee, following a highly critical government review

Accounting / Top 10 tips for preparing year-end accounts – part 1

For private companies with a December year end and public companies with a March year end, the accounts filing deadline is fast approaching. Kate Beeston ACA, technical writer, audit & accounting, Croner-i, provides an essential guide to preparing FRS 102 accounts

Accounting / International reporting: how relevant are IFRS standards?

The recent IASB annual conference focused on the transparency of international reporting under IFRS, the relevance of standards to company reporters and stakeholders, and the definition of materiality. Jeroen Van Doorsselaere, vice president of value propositions at Wolters Kluwer Financial Services, unpicks the key issues

Accounting / Transition tips: FRS 105 to FRS 102 - NEW CPD module

This month's exclusive Accountancy Daily CPD module focuses on transitioning from FRS 105 Micro-Entities Regime accounting rules for small entities to full blown FRS 102 Financial Reporting Standard