UK GAAP

Accounting | What is invoice financing and how is it accounted for?

Invoice financing provides a useful cashflow benefit which needs to be reported in the annual accounts, explains Lizzie Morris ACA, accounting writer at Croner-i

15 Feb 2023

Accounting | Accounting for lease and revenue recognition rule overhaul

The Financial Reporting Council (FRC) plans to update FRS 102 with changes to the accounting rules on revenue recognition and leases to take account of IFRS 15 and 16

15 Dec 2022

Consultations

Accounting | Tips and advice: UK GAAP and IFRS year end accounting

Rachel Farris FCA CTA and Sarah Baxendale FCA explain the critical issues to bear in mind when completing accounts for December 2022 year end reporters

7 Dec 2022

Accounting | Sign up for our year-end financial reporting reminders webinar

Croner-I will be running a live webinar on an end of year roundup of current accounting issues and reporting requirements on Tuesday 6 December

30 Nov 2022

Accounting | CPD module: FRS 102 & FRS 105 - government grants

In this month's exclusive Accountancy CPD module, we explain the accounting treatment for government grants under FRS 102 and FRS 105

23 Nov 2022

Accounting | FRC releases 2023 suite of taxonomies for accountants

The Financial Reporting Council (FRC) has published the 2023 suite of FRC Taxonomies with changes affecting all accounting standards

24 Oct 2022

Accounting | Lack of understanding of reporting on earnings per share

The Financial Reporting Council (FRC) has published a thematic review of earnings per share (EPS), warning that the IAS 33 accounting rules are not always correctly applied

8 Sep 2022

Accounting | Accounting for income tax under FRS 102

Steve Collings FCCA looks at how to account for current and deferred taxes, highlighting the impact of recent changes to the UK tax regime, including the130% super deduction allowance

31 Aug 2022

Accounting | The practicalities of transitioning to FRS 102

Steve Collings FCCA looks at transitioning to FRS 102, with a focus on the process, transitional adjustments, opening balance sheets, plus practical examples

29 Jun 2022

Accounting | FRC consults on amendments to FRS 100 application guidance

The Financial Reporting Council (FRC) plans to update the application guidance to FRS 100 to reflect changes to company law and decisions on equivalence after the UK’s exit from the EU

24 May 2022

Consultations

Accounting | FRC concludes FRS 101 review without changes

The Financial Reporting Council (FRC) has issued Amendments to Basis for Conclusions FRS 101 Reduced Disclosure Framework 2021/22 cycle

23 May 2022

Accounting standards

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

Accounting standards

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 | 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 | What is merger accounting?

When accounting for mergers, the rules are slightly different with the use of book values as opposed to fair values, which affects the consolidated financial statements, explains Steve Collings FMAAT FCCA

15 Dec 2021