Accounting / Pension funds at risk from cyber crime, warns PRAG

The Pensions Research Accountants Group (PRAG) is warning that pension funds are at high risk of attack from cyber criminals as they have access to extensive personal identity data including addresses, financial records and banking details, which can be sold, or used to compromise or steal from other victims

Accounting / FRC’s Lab to report on implementation impact

The Financial Reporting Council’s (FRC’s) financial reporting lab is carrying out an implementation study on how practice has changed as a result of its work on corporate reporting, and will reveal its findings at its conference in London in June

Accounting / Challenges of accounting for LLPs

Limited liability partnership (LLP) accounts create challenges over profits, revenue recognition and mergers, explains Sarah Perrin ACA

Accounting / Demystifying changes to charities' annual returns

BDO partner Fiona Condron looks at the changes planned for charities and their annual return and highlights the issues to be aware of

Accounting / Companies Act 2006 part 13: individual accounts

This article, the thirteenth in our series on the Companies Act 2006, will focus on the preparation of individual accounts looking into Financial Reporting Standards (FRS) and International Accounting Standards (IAS) 

Accounting / End of pseudo hedge accounting under FRS 102 and IFRS

Does the recent IFRIC policy statement on hedge accounting mean the end of the use of pseudo hedging under IFRS and FRS 102 accounting, asks Zwi Y Sacho CA(SA), FCA, director of the corporate accounting advisory practice at Chatham Financial Europe

Accounting / FRS 101: transition tips and advice - part 5

Anne Cowley ACA explains the key transition steps when moving to FRS 101 Reduced Disclosure Framework, whether transitioning from FRS 102, FRS 105 Micro-entities Regime or International Financial Reporting Standards (IFRS)

Accounting / FRS 102 and deferred tax – NEW CPD module

This month's exclusive CCH Daily CPD module focuses on deferred tax under the scope of Section 29 in FRS 102 under new UK GAAP and covers when it should be used, how to recognise tax assets correctly and how to disclose tax issues

Accounting / Companies House introduces service to file abridged accounts

Companies House is currently testing a new service which will allow businesses to file abridged accounts under FRS 102 directly to Companies House after company accounts prepared under FRS 102 and filleted accounts under FRS 105 were previously rejected

Accounting / FRS 102 amendments explained: practical issues

Anne Cowley ACA reviews the latest amendments to FRS 102 resulting from the FRC’s triennial review highlighting changes to directors’ loans, recognition of intangible assets and investment property, as well as the definition of financial institutions, which on balance simplify aspects of UK GAAP

Accounting / FRS 101: comparing accounting treatment under FRS 102 - part 4

Anne Cowley ACA examines the fundamental accounting differences between FRS 101 and FRS 102 from the treatment of loans and derivatives to leases, revenue recognition and deferred tax, particularly taking into account new IFRS standards

Accounting / FRC amendments claim to simplify FRS 102

The Financial Reporting Council (FRC) has completed the first triennial review of FRS 102 and has announced a package of amendments to address implementation issues identified since the new UK GAAP was introduced in 2015, in a bid to make the standard more cost effective and easier to use

Tax / HMRC consults on corporate interest restrictions and IFRS 16 Leases

A consultation has been launched by HMRC on corporate interest restrictions in order to take account of the accounting changes brought about by IFRS 16 Leases

Tax / HMRC consults on tax changes to plant and machinery leases

Due to changes to international accounting standards on lease accounting under the forthcoming IFRS 16 Leases, HMRC has issued a consultation on proposed changes to the tax code to ensure the tax treatment of leases reflects lease accounting rules post 2019

Accounting / Accounting updates: December 2017

In this month’s roundup of developments in accounting and financial reporting, IFRS 9 adoption could wipe £2bn off Barclays' net value, FRC annual FRS 101 review defers changes to leases, IFRS 15 revenue recognition hits mobile operators