UK-Irish GAAP update part 2

Read our guide to revenue accounting and special considerations for non-profits

UK-Irish GAAP update part 3

Read our guide to non-profits and financial guarantee arrangements

UK-Irish GAAP update part 1

Read our guide to lease accounting for lessees, with special considerations for non-profits

Updated accounting standards from 1 January 2021

The FRC has issued latest editions of UK and Ireland accounting standards to use for financial years beginning on or after 1 January 2021

Technical factsheet: FRS 102 – small company reporting

This technical factsheet has been updated to incorporate the results of the triennial review carried out by the Financial Reporting Council in 2017, which impacts small entities

Technical factsheet: FRS 102 – reporting for medium-sized and large entities

This technical factsheet has been updated to incorporate the results of the triennial review carried out by the Financial Reporting Council in 2017, which impact entities for accounting periods starting on or after 1 January 2019

Accounting by limited liability partnerships

A topical summary of the new SORP for LLPs

IFRS 15 – revenue recognition steps

The five revenue recognition steps of IFRS 15 and how to apply them.

Model accounts

ACCA is updating its successful and regularly requested free proforma model accounts

When audit thresholds can be confusing

The audit thresholds for limited companies changed from 1 January 2016 – and can be confusing for companies

FRS 102 – brace for change

Think you’ve mastered FRS 102? We have news for you…

People with significant control

Companies must provide details of their PSCs

FRS 105 – a new reporting regime for micro-companies

Guidance to share with clients who operate in the public sector

Directors’ loan account – valid entries are vital

Failing to record directors’ loans can prove costly

Loans to participators

How to handle written off payments to participators, directors and employees

FRS 101: reduced disclosure framework election

Parent companies wishing to take advantage of FRS 101 'reduced disclosure framework' need to notify shareholders

When unincorporated businesses can apply FRS 105

FRS 105 can be applied by unincorporated businesses that meet the size criteria

FRS 101 and FRS 102 tax overview

New guidance outlines the key tax considerations for companies transitioning from old UK GAAP to the new standards

Investment properties – practical issues adopting new UK GAAP

A look at the differences between FRSSE 2015, FRS 105 and FRS 102 and the new UK GAAP regime for transfers between investment properties and other classes of assets

FRS 102: accounting for director loans and inter-group loans

When is a loan from a director a financial instrument?

Implementing FRS 102 – problem areas

Members have raised a number of FRS 102 issues where ‘new’ UK GAAP is different from the previous treatment

FRS 102 intangible assets – what’s changed?

A look at the main differences between the old and the new UK GAAP regime, concerning intangible assets.

The latest changes to FRS 102

A summary of the latest incremental improvements and clarifications to (FRS) 102

Accounting standards

The Financial Reporting Council has issued revised accounting standards following the triennial review

Charitable incorporated organisations (CIO)

The conversion regulations and other secondary legislation under the Charities Act are now in force

FRS 102 amendments

The FRC has issued amendments to FRS 102

Technical factsheet: FRS 102 – transition issues for small companies

This factsheet addresses the issues for small companies arising from FRS 102

Technical factsheet: FRS 102 – transition issues for medium-sized and large companies

FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, is based on the principles found in International Financial Reporting Standards (IFRSs), specifically IFRS for SMEs.

Auto-enrolment: small company and LLP exemptions

Changes are due to come into force in April 2016

Charity SORP update

A number of amendments have been made to the regulations

Reporting: clear and concise

The Financial Reporting Council has published a report on developments in corporate reporting

New GAAP

FRS 100, FRS 101 and FRS 102 have been updated

Charities SORP 2015

The Charity Commission has advice on what to do while the 2015 Charity (Account and Reports) Regulations have not been issued

Academies: FRS 102 and Charities SORP 2015

The Education Funding Agency highlights the transition issues that will be faced by academies

FRS 102: FRC guidance

The FRC has issued a set of Staff Education Notes related to FRS 102

UK GAAP

The FRC has issued a number of changes

Charity GAAP changes

Changes will affect charities from 1 January 2016

New standards for turnovers under £10.2m

The Financial Reporting Council (FRC) launched a consultation on three financial reporting exposure drafts (FREDs) that make amendments to UK GAAP and base them on the FRS 102 framework

Thresholds

Still in a draft form, the Statutory Instrument sets out the new threshold limits

UK GAAP: the new regime

Convergence of financial reporting standards is at last in sight with the publishing by the FRC of FRS 100, FRS 101 and FRS 102, which between them set out the new UK GAAP framework that will be mandatory from 1 January 2015. Early adoption is permitted, and indeed encouraged, but mandatory implementation will be for accounting periods beginning on or after 1 January 2015

GAAP: Model accounts

ACCA has produced model accounts based on both the FRSSE 2015 and FRS 102.

GAAP: Software and website development costs

What impact will new UK GAAP have on certain technologies?

GAAP: Employee benefits

How to account for employee benefits under the new standard.

GAAP v FRS 102: cash flow statement

A look at the cash flow statement when transitioning to FRS 102.

GAAP: Foreign currency translation

Understanding the treatment of foreign currency under FRS 102.

GAAP: Deferred tax

How will deferred tax change under FRS 102?

GAAP: Consolidated financial statements and business combinations, current GAAP v FRS 102

How to address business combinations under FRS 102.

GAAP: Accounting for investment properties

Analysis of how to treat investment properties under FRS 102.

GAAP: Small company limit increases in 2015 or 2016?

Should a company transition to FRS 102 this year, or wait until 2016?

GAAP: Recognition of intangibles and goodwill: old GAAP v FRS 102

A comparison of the recognition treatment of intangibles and goodwill between old UK GAAP and FRS 102, including the potential tax impact of the new standard.