Accounting standards

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

Accounting | IASB amends transition rules for IFRS 17 Insurance Contracts

The International Accounting Standards Board (IASB) has issued a narrow-scope amendment to the transition requirements in IFRS 17 Insurance Contracts, providing insurers with an option aimed at improving the usefulness of information to investors on initial application of the new standard

13 Dec 2021

IFRS

Accounting | FRC sets out guidance on climate reporting under FRS 102

The Financial Reporting Council (FRC) has published a factsheet which details what climate-related matters need to be considered when preparing financial statements and associated narrative reporting under FRS 102

18 Nov 2021

Accounting | Sustainability Standards Board operational from June

Plans to finalise the International Sustainability Standards Board are going ahead with the IFRS Foundation telling COP26 delegates that the new standard setter would be set up by June 2022 based in Frankfurt

3 Nov 2021

Accounting | Impairment of assets under IAS 36

Sarah Baxendale FCA explains impairment accounting for entities applying IAS 36 Impairment of Assets, how to apply the standard and the frequency of assessments

5 Oct 2021

Accounting | Accounting for tax under IAS 12 Income Taxes

Rachel Farris FCA CTA, senior accounting writer at Croner-i, identifies two significant issues for businesses to consider when accounting for current and deferred tax under IAS 12 Income Taxes (IAS 12) – Covid-19 related impacts and climate-related risks

29 Sep 2021

Accounting | XBRL taxonomy for sustainability standards released

The Value Reporting Foundation has released an XBRL taxonomy for Sustainability Accounting Standards Board (SASB) standards to integrate the standards into the common language for business reporting

28 Sep 2021