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

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

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

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

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

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

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

The FRC has confirmed that it plans to make no changes to FRS 101 Reduced Disclosure Framework following its annual review but is consulting on possible cost implications

Steve Collings FMAAT FCCA explains the key issues to consider when accounting for foreign currency transactions under FRS 102

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

Steve Collings FMAAT FCCA explains impairment accounting and disclosure for small entities applying FRS 102:1A and the impact on the balance sheet

Accounting under IAS 37, Provisions, Contingent Liabilities and Contingent Assets will have to consider the impact of covid-19 when preparing accounts, explain Steve Collings FCCA and Rachel Farris FCA, accounting and audit writer, Croner-i