Accounting standards

IFRS

Accounting | Sustainability standards must not create more reporting

The government plans to consult on endorsement plans for future sustainability standards by the end of the year but will aim to consolidate reporting requirements to reduce overlap

16 May 2022

Accounting | ISQM (UK) 1 and the risk assessment process

As firms begin to realise the fast approaching deadline of complying with new requirements under quality management standard ISQM (UK) 1, Helen MacNeill FCA and Sarah Baxendale FCA look in more detail at the risk assessment process

20 Apr 2022

Accounting | FRC plans outreach before finalising FRS 102 review

The Financial Reporting Council (FRC) plans to consult on possible amendments to UK GAAP in September following a series of roundtables with stakeholders

6 Apr 2022

UK GAAP

Accounting | Treasury to regulate cryptocurrency stablecoins

The government plans to regulate stablecoins cryptocurrency as part of a wider aim to make the UK a hub for digital payment companies

5 Apr 2022

Accounting | IFRS for SME rules on revenue recognition under review

At a meeting of the International Accounting Standards Board (IASB), members of the IFRS for SMEs working group discussed possible simplifications to the accounting rules

30 Mar 2022

IFRS

Accounting | Limited liability partnerships (LLP) SORP for 2022

Following the release of the latest LLPs SORP, Kate Beeston ACA from Croner-i and Janet Milligan ACA from the LLP SORP steering group set out the key changes and the practical impact for preparers and auditors of limited liability partnership accounts

16 Mar 2022

Accounting | UKEB searches for expert accounting members

The UK Endorsement Board (UKEB) has launched a campaign to recruit over 50 advisory group members to input into technical decision-making on international accounting standards

9 Mar 2022

IFRS

Accounting | Sustainability standard setter heads for Frankfurt base

The Trustees of the IFRS Foundation have signed agreements with German public and private sector institutions to finalise a deal to set up the International Sustainability Standards Board (ISSB) in Frankfurt

2 Mar 2022

Accounting | Climate change module added to accountancy course

The University of Birmingham has introduced a climate change syllabus onto its BSc Accountancy and Finance degree course

28 Feb 2022

Accounting | Cash flow statements - avoid common pitfalls

Cash flow statements are consistently high on the list of areas that regulators focus on. Sarika Sharma ACA runs through fundamental elements of cash flow, the common issues and how to avoid them in practice

16 Feb 2022

Accounting | Accounting rules for social housing providers updated for 2022

The government has published the latest rules on accounting for registered and social housing providers for preparation of their accounts from January 2022

14 Jan 2022

Accounting | Accounting for share-based payments under IFRS 2

Sarah Baxendale FCA sets out the key considerations for applying IFRS 2 Share-based payment, particularly when determining whether arrangements should be treated as equity-settled or cash-settled

5 Jan 2022

Accounting | Year-end accounts: reporting on Covid and Brexit

Rachel Farris FCA CTA and Sarah Baxendale FCA of Croner-i look at 2021 year-end reminders for those preparing and auditing accounts in the UK, including the impact of Covid and Brexit, and key amendments under IFRS and UK GAAP

24 Dec 2021

Accounting | Accounting rules for LLPs revised with SORP 2022

CCAB has issued the revised Statement of Recommended Practice – Accounting by Limited Liability Partnerships (LLPs SORP) due to come into effect from 1 January 2022

20 Dec 2021

Accounting | Progress on sustainability standards as chair appointment imminent

The FRS Foundation has confirmed that it is close to appointing a chairperson for the newly set up International Sustainability Standards Board (ISSB) while it has outlined plans for work priorities

16 Dec 2021