State of the non-profit finance function

This report was developed to provide insight into an important, yet often neglected, aspect of the non-profit sector: the finance function.

Annual improvements to IFRSs 2014-2016 Cycle (ED/2015/11)

IASB's Exposure Draft Annual Improvements to IFRSs 2014-2016 Cycle covers proposed amendments to IFRS 1, IFRS 12 and IAS 28

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

From Share Value to Shared Value

This report from IMA and ACCA examines the recent shift in focus from share value to the generation of “shared value,” as companies define success in terms of both internal financial returns and external social and economic results.

IFRIC Interpretation DI/2015/1 Uncertainty over Income Tax Treatments

The IFRS Interpretations Committee has published a proposed Interpretation of Standards on uncertainty over income tax treatments and how it affects the accounting for income taxes.

Charities SORP 2015

The new regulations for England and Wales are yet to come into force

New GAAP

FRS 100, FRS 101 and FRS 102 have been updated

The challenges of assuring integrated reports: Views from the South Africa Auditing Community

In 2010, South Africa became the first country in the world to mandate Integrated Reports for all listed companies. This report focuses on the issue of independent assurance: can and should independent assurance be delivered on in the same way as it is on conventional annual reports and financial statements?...

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

Innovation, intangibles and integrated reporting: a pilot study of Malaysian SMEs

This report presents the results of a pilot project, which tests the relevance of the Malaysian National Corporate Innovation Index to SMEs.

Consolidated government accounts

Whole of Government accounts are critical to government transparency. In this report, ACCA examines how widely they are used.

Duty to report

A look at the implications of new legislation

Charity GAAP changes

Changes will affect charities from 1 January 2016

Classification of liabilities - proposed amendments to IAS 1

Comments from ACCA the International Accounting Standards Board, 10 June 2015. Reference: CDR1339.

Lease accounting roundtable

In March 2015 ACCA and FLA held a joint roundtable seminar to discuss the probable content of the revised IFRS on leasing. This briefing paper summarises the discussion.

CAA/ATOL reporting

The Civil Aviation Authority (CAA) has issued an invitation to the professional accountancy representative bodies to participate in the scheme for ATOL Reporting Accountants (ARA).

Carbon accounting for small businesses

David York explains how professional accountants can help businesses improve competitiveness by becoming greener.

Draft amendments to FRS 100, application of financial reporting requirements and FRS 101 reduced disclosure framework

Comments from ACCA to the Financial Reporting Council.

Draft amendments to FRS102 – small entities and other minor amendments

Comments from ACCA to the Financial Reporting Council.

Draft FRS 105 - The financial reporting standard applicable to the micro-entities regime

Comments from ACCA to the Financial Reporting Council.

Disclosure initiative: proposed amendments to IAS7

Comments from ACCA to the International Accounting Standards Board.

Canadian CFO Sentiment Study - March 2015

Canadian finance executives are showing great confidence in the US market in 2015, however when it came to their views on the domestic or global economy, most took the middle ground.

Disclosure: too much or too little?

The Financial Reporting Council’s (FRC) Financial Reporting Lab, in its project to help companies and investors improve reporting, has a broad aim to ‘remove clutter’ from accounts

Capital Markets Union

Capital Markets Union (CMU) is a European Commission plan that aims to create deeper and more integrated capital markets in the 28 member states of the European Union.

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

Classification and measurement of share-based payment transactions: proposed amendments to IFRS 2

Comments from ACCA to the International Accounting Standards Board.

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.

GAAP: Measurement of basic financial instruments: old GAAP v FRS 102

A comparison of the measurement treatment of basic financial instruments between old UK GAAP and FRS 102, including the potential tax impact of the new standard.

FRC issues new FREDs streamlining UK GAAP

On February 19 2015, the 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.

New UK GAAP – an overview

Make sure that you are ready for the new UK GAAP and understand the choices available to businesses.

Guidelines on enforcement measures against recognised supervisory bodies and recognised qualifying bodies

Comments from ACCA to the Financial Reporting Council.

The European Commission’s multi-stakeholder forum on corporate social responsibility

This article reports on the CSR forum hosted at the European Commission on 3-4 February 2015.

Public sector reporting

The International Public Sector Accounting Standards Board has issued several new standards for public sector reporting.

Academies

Schools must publish the amount of grant received, how they spent it (or will spend it) and the impact on pupils’ PE (physical education) and sport participation and attainment.

Regulatory fees and levies: policy proposals for 2015/16

Comments from ACCA to the Financial Conduct Authority.

The international project on lease accounting: the view from Europe

Following the issue of two Exposure Drafts on leasing by the IASB, deliberation continues on the contents of a revised IFRS. Peter Ujvari reports on a European outreach event intended to help progress this project.

Proportionate regulation: reporting accountant requirements

Comments from ACCA to the Solicitors Regulation Authority.

Spotlight on accounting for complex supplier arrangements

The FRC has urged reporting entities to clarify the accounting treatment of complex supplier arrangements, which include supply chain finance and ‘pay to stay’ fees.

Measuring quoted investments in subsidiaries, joint ventures and associates at fair value

Comments from ACCA to the International Accounting Standards Board (IASB).

Accounting for Complex Supplier Arrangements falls under FRC’s spotlight

The FRC has urged reporting entities to clarify the accounting treatment of complex supplier arrangements, which include supply chain finance and ‘pay to stay’ fees.

Reporting the financial effects of rate regulation

Comments from ACCA to the International Accounting Standards Board (IASB).

Remuneration

The GC100 and Investor Group published a statement updating their guidance on the Directors' Remuneration Reporting Regulations 2013.

Investment entities

Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) is a narrow-scope amendment to IFRS 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other Entities and IAS 28 Investments in Associates and Joint Ventures.

Recognition of deferred tax assets for unrealised losses: proposed amendments to IAS12

Comments from ACCA to the International Accounting Standards Board.

Risk reporting

This report examines how the quality and value of risk reporting can be improved. It reviews current practice in risk reporting, the barriers to better risk reporting, the wishes of users, and the concerns of preparers.

Integrated Reporting

The International Integrated reporting Council (IIRC) has issued the first in what it promises will be a series of publications called the Creating Value series.

Share-based payments

International Accounting Standards Board Exposure Draft amending IFRS 2 for share-based payment is open for comment until 25 March.

Consultation on the updated CDSB framework

Comments from ACCA to the Climate Disclosure Standards Board (CDSB).

Proposed statement on non-GAAP financial measures

Comments from ACCA to the Board of the International Organization of Securities Commissions (IOSCO).

Concept paper on weighted voting rights

ACCA response to Concept paper on weighted voting rights - a consultation issued by the Hong Kong Stock Exchange

Accounting standards for small entities

Comments from ACCA to the Financial Reporting Council (FRC).

FRED 55: Amendments to FRS102, pension obligations

Comments from ACCA to the Financial Reporting Council.

Automatic Exchange of Information for Tax Purpose HK

Automatic Exchange of Information for Tax Purpose (AEOI). Consultation issued by the Financial Services and the Treasury Bureau, Hong Kong

UK implementation of the EU accounting directive, chapters 1–9

Comments from ACCA to BIS.

New SORPs for LLPs and Charities

The LLP SORP 2010 and the Charities SORP 2005 have been updated for the changes to UK GAAP brought about by FRS 102 and FRSSE 2015.

The dawn of the new UK GAAP – requirements and options

The era of the new UK GAAP begins on 1 January 2015 and for many will change again from 1 January 2016. Reporting entities have to choose which of the reporting standards that they are allowed to adopt is best suited to their circumstances.