Annual improvements to IFRS: 2012-14 cycle

Comments from ACCA the International Accounting Standards Board.

Accountants and strategic leadership

This paper looks at the future of corporate reporting, following the introduction of the Integrated Reporting Framework from the IIRC.

Proposed amendments to the international financial reporting standard for small and medium-sized entities

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

Technical factsheet 185: Stock and work in progress

The purpose of this factsheet is to provide guidance on the accounting and disclosure of stock and work in progress within statutory financial statements. This factsheet will consider the provisions within the Companies Act 2006 and the accounting and disclosure requirements within the related accounting regulations, SSAP 9 Stocks and long-term contracts, Financial Reporting Standard for Smaller Entities 2008 (FRSSE 2008), FRSSE 2015 and Financial Reporting Standard 102 (FRS 102) The Financial Reporting Standard Applicable in the UK and Republic of Ireland. We will also consider the contents of UITF 40 Revenue recognition and service contracts.

Amendments to FRS102: Hedge accounting (FRED51)

Comments from ACCA to the Financial Reporting Council

Understanding investors: the changing corporate perspective

The last in a four-part series examining what investors want from corporate reporting and how organisations are responding to their needs. It examines current trends in reporting and the audit relationship from the perspective of the CFO, with a particular emphasis on real-time and integrated reporting.

Accounting by registered social housing providers

Comments from ACCA to the National Housing Federation.

Draft amendments to the FRSSE: Micro entities (FRED52)

Comments from ACCA to the Financial Reporting Council

Creating value through governance – towards a new accountability: a consultation

This consultation paper forms part of ACCA’s investigation into whether existing governance and risk management frameworks are ‘fit for purpose’. The consultation period closed 31 August 2014.

IFRS 14 Regulatory Deferral Accounts

The International Accounting Standards Board (IASB) has issued IFRS 14 Regulatory Deferral Accounts as an interim Standard while it considers how the issues will be resolved over a longer term.

Equity method in separate financial statements: proposed amendments to IAS27

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

Integrated Reporting: International Framework

The Integrated Reporting (IR) framework has been published. Integrated Reporting is voluntary and continues to be adopted by businesses around the world.

UK Charities: Strategic Report

The Charity Commission and the Office of the Scottish Charity Regulator (OSCR) have issued guidance

FRC Staff Education Notes

The FRC has provided helpful information on FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland

Micro-Entity Accounts

Simplified accounting is available for small companies, but is not suitable or available for all...

FRS 101

FRED 53: Draft Amendments to FRS 101 Reduced Disclosure Framework (2013/14) sets out proposed amendments to FRS 101

Guide to Review Engagements

IFAC have issued a Guide to Review Engagements, which coincides with the coming into effect of the updated standard ISRE 2400 (Revised).

Assurance Engagements

International Standard on Assurance Engagements (ISAE) 3000 has been revised.

Public Sector Reporting

The International Public Sector Accounting Standards Board (IPSASB) has published a Handbook of International Public Sector Accounting Pronouncements.

The new strategic report

The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 apply to financial years ending on or after 30 September 2013

A review of the conceptual framework for financial reporting

Comments from ACCA to the International Accounting Standards Board.

Detailed proposals for the FCA regime for consumer credit (CP13/10)

Comments from ACCA to the Financial Conduct Authority.

Guidance on the strategic report

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

Residential management companies’ financial statements and consequential amendments to the FRSSE

Comments from ACCA to the Financial Reporting Council (FRC), November 2013

FRED 49 insurance contracts

Comments from ACCA to the Financial Reporting Council (FRC), October 2013

Connecting capital markets: the Nairobi Security Exchange Growth Enterprise Market Segment

This paper draws on interviews with Nairobi Security Exchange (NSE) officials as well as coverage in the African and international financial press to tell the story of the Growth Enterprise Market Segment (GEMS), the Nairobi-based board targeted at small and medium-sized enterprises. It is part of a series of ACCA case studies looking into the shared experiences of regulators, exchange operators, investors and listed firms in emerging capital markets.

Reporting practices on fossil fuel reserves

In two video presentations, James Leaton introduces the 2013 research paper, 'Carbon avoidance?, and Richard Martin explains how unburnable carbon might be reflected in a company’s financial statements.

XBRL and new UK GAAP

[29/10/2013] How financial statements prepared under the new financial reporting standards will be submitted in XBRL format.

International standards and the true and fair view

FRC commissions a QC’s opinion on the legal status of IFRS accounts under UK company legislation.

Directors' remuneration disclosure changes

[28/10/2013] There have been changes in regard to the disclosure requirements of directors’ remuneration.

Community interest companies

[28/10/2013] How to establish and run a successful community interest company.

Agriculture: bearer plants, proposed amendments to IAS 16 and IAS 41

Comments from ACCA to the International Accounting Standards Board (IASB), 21 October 2013

New UK GAAP and changes to FRS 100-103

[15/10/2013] The new UK GAAP framework introduces significant changes, particularly to FRS 102. Find out more about these, and ACCA’s new model accounts.

Technical factsheet 183: Leases

The purpose of this helpsheet is to provide guidance on the disclosure of accounting for leases within statutory financial statements. This helpsheet will consider the provisions within the Companies Act 2006 and the accounting and disclosure requirements within the related accounting regulations, SSAP 21 Accounting for leases and hire purchase contracts, Financial Reporting Standard for Smaller Entities 2008 (FRSSE 2008), FRSSE 2015 and Financial Reporting Standard 102 (FRS 102) The Financial Reporting Standard Applicable in the UK and Republic of Ireland.

Improving natural capital reporting and finding the tools to help

This paper highlights some of the ways companies can report on their natural capital impacts and dependencies.

UK GAAP: how ACCA can help you prepare

[16/09/2013] ACCA Technical Factsheet 181 explaining the financial reporting and taxation consequences of the change to the new UK GAAP is now available.

Good governance in the public sector – international framework

Comments from ACCA to the International Federation of Accountants, 13 September 2013

Leases

Comments from ACCA to the International Accounting Standards Board (IASB), 13 September 2013

Knowledgeable about IFRS for SMEs?

[11/09/2013] Why ACCA’s CertIFRS for SMEs could benefit your business.

Regulatory deferral accounts

Comments from ACCA to the International Accounting Standards Board (IASB), 4 September 2013

Understanding investors: the road to real-time reporting

ACCA, September 2013. This report is the third of a four-part project examining what investors want from corporate reporting and how organisations are responding to their needs. It explores trends in the speed of internal and external financial reporting, and assesses the pros and cons of a move towards real-time, or ‘near-to-real-time’, reporting to investors and other stakeholders.

International standard for public benefit entities

Details of CCAB research into the need for not-for-profit organisations.

Housing associations - practice note 14

Proposed Practice Note 14 (Revised) on the audit of housing associations in the United Kingdom

Conceptual framework for general purpose financial reporting by public sector entities: presentation in general purpose financial reports

Comments from ACCA to the International Public Sector Accounting Standards Board, 13 August 2013

Housing SORP 2014

The National Housing Federation has published an invitation to comment on the Housing SORP - Statement of Recommended Practice (SORP): Accounting by registered social housing providers.

SMEs, financial reporting and trade credit: an international study

ACCA research report 133, by J. Collis and R. Jarvis.

Cash accounting - the pros and cons

Arguments in favour of and against the cash accounting regime for small businesses, which is optional for small unincorporated businesses from 6 April 2013.

The draft framework for integrated reporting

Comments from ACCA to the International Integrated Reporting Council (IIRC), July 2013

IASB: Financial instruments: expected credit losses

Comments from ACCA to the International Accounting Standards Board

IPSASB: Financial statement discussion and analysis (Exposure Draft 47)

Comments from ACCA to the International Public Sector Accounting Standards Board, IFAC, July 2012

Uncertainty

Comments from ACCA to European Financial Reporting Group (EFRAG)

EFRAG: Uncertainty: Bulletin in the series ‘Getting a Better Framework’

Comments from ACCA to the European Financial Reporting Group (EFRAG), 27 June 2013.

EFRAG: Reliability of financial information: bulletin in the series ‘getting a better framework’

Comments from ACCA to the European Financial Reporting Group (EFRAG), 27 June 2013.

EFRAG: Prudence: bulletin in the series ‘Getting a Better Framework’

Comments from ACCA to the European Financial Reporting Group (EFRAG), 27 June 2013.

What do investors expect from non-financial reporting?

In this paper, ACCA and Eurosif gather the views and opinions of the investment community on their use of ESG information and the proposed EU reporting regime.

Impairment of assets

IASB have amended IAS 36 Impairment of Assets, with the amendment applying for periods beginning on or after 1 January 2014.

UK GAAP: status of IFRIC interpretations

A guide to the International Financial Reporting Interpretations Committee's interpretations that relate to UK GAAP

A gathering force

Progress towards the adoption of integrated reporting around the world may be mixed, but momentum continues to build, says ACCA’s Rachel Jackson.

Understanding investors: directions for corporate reporting

ACCA, June 2013. This report is the second of a four-part project examining what investors want from corporate reporting and how organisations are responding to their needs. It outlines the kind of information investors need to make their decisions, how they now like to receive that information (both the format and the communications channels), and their level of trust in what they receive.

Understanding investors: the changing landscape

ACCA, June 2013. This report is the first of a four-part project examining what investors want from corporate reporting and how organisations are responding to their needs. It reviews recent developments, trends and emerging issues in the investor landscape since the global financial crisis. While it uses the UK and Ireland investor base for its analysis, the trends it identifies have a wide international resonance.

Public sector reporting

International Public Sector Accounting Standards Board (IPSASB) has issued Conceptual Framework Exposure Draft 4, Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Presentation in General Purpose Financial Reports.

IASB: Acquisition of an interest in a joint operation - proposed amendment to IFRS 11

Comments from ACCA to the International Accounting Standards Board, April 2013.

Technical factsheet 179: guidance on pension scheme trustees duties and responsibilities

Guidance on pension scheme trustees duties and responsibilities

General anti-abuse rule

After much speculation a general anti-avoidance rule – the General Anti-Abuse Rule (GAAR) – has emerged within the Finance Bill 2013

The accountability mechanisms and needs of external charity stakeholders

ACCA research report 132, by C. Connolly, A. Dhanani and Noel Hyndman.

FRC: Implementing the recommendations of the Sharman Panel

Comments from ACCA to the Financial Reporting Council (FRC), 30 April 2013. A consultation on the revised Guidance on Going Concern and revised International Standards on Auditing (UK and Ireland) issued for comment by the Financial Reporting Council.

FRC: Revision to ISA (UK and Ireland) 700, requiring the auditor’s report to address risks of material misstatement, materiality and a summary of the audit scope

Comments from ACCA to the Financial Reporting Council (FRC), 30 April 2013.

IASB: Sale or acquisition of assets between an investor and its associate or joint venture – proposed amendments to IFRS 10 and IAS 28

Comments from ACCA to the International Accounting Standards Board, April 2013.

Charities online

From 22 April 2013, charities and Community Amateur Sports Clubs (CASCs) will be required to use HMRC’s charities online service to obtain repayment of gift aid.

IASB: Equity method, share of other net asset changes - proposed amendments to IAS 28

Exposure Draft ED/2012/3, issued by the International Accounting Standards Board (IASB). Comments from ACCA to the International Accounting Standards Board, 19 March 2013.