Final salary pension schemes may be a legacy of a more generous time, but they remain a balance sheet issue for finance directors amidst deficit warnings and consolidation risks. Adrian Cooper, head of direct distribution, TPT Retirement Solutions, considers whether master trusts are the right approach
The Financial Reporting Council (FRC) has issued amendments to FRS 102 affecting the reporting treatment of multi-employer defined benefit (DB) plans to clarify reporting of deficits in other comprehensive income
Real Madrid is the most lucrative football club in Europe valued at over €3bn (£2.7bn), while Chelsea and Liverpool have both broken through the €2bn (£1.8bn) barrier for the first time this season in KPMG’s football clubs’ enterprise value ranking, which sees the top 32 clubs in Europe valued at over £30bn
Accountants should be doing more to encourage the very smallest companies to opt for simplified accounting such as FRS 105, according to a report on the EU’s introduction of a micro-entities accounting regime
The Pensions Research Accountant Group (PRAG) has published guidance on accounting for guaranteed minimum pensions (GMPs) equalisation in pension scheme accounts. Kevin Clark, chair of the PRAG SORP Working Party, examines the key issues for trustees
ACCA’s pre-tax deficit more than doubled to £35.2m last year according to a preview of its financial results for the 2018-19 financial year, largely because of a one-off accounting adjustment relating to ACCA’s defined benefit pension scheme amounting to £12.5m
Impending accounting standards changes to IFRIC 14 and the limit on defined benefit asset rules could hit FTSE 100 pension schemes by up to £100bn, double previous predictions, warns LCP
Regulatory bodies, including HMRC, ICAEW and ACCA, have identified 42 businesses as having potential compliance failings in customer checks, record keeping and identifying risk
The new Solicitors Regulation Authority (SRA) Accounts Rules come into effect this November and the key changes are set to simplify the accounting treatment with less prescriptive requirements but there are significant changes to handling of client monies, explains Ross Prince, partner at Crowe
In a bid to inprove the quality of financial reporting at academy trusts, the Department for Education (DfE) has launched a new academies chart of accounts as the first step to automated financial reporting
Thomas Hulme, cryptoasset specialist at law firm Mackrell Turner Garrett, examines the rules of insolvency and cryptoassets, and how creditors can recover money from an insolvent person or business’s digital wallet
As the half year financial reporting period approaches, Andrew Marshall FCA, senior technical partner at KPMG, examines the complexities of calculating lease terms, particularly for property, when reporting under IFRS 16 Leases
The Securities and Exchange Commission (SEC) has opened a 60-day consultation on changes to the definitions of ‘accelerated filer’ and ‘large accelerated filer’ to reduce compliance costs for smaller reporting companies in the US
The Financial Reporting Council (FRC) and ICAEW have released a guide to help smaller listed and AIM quoted companies improve their financial reporting as it is still falling below expectations
