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.

New charity SORP: have your say

With a new charity SORP on the way, you can comment on the current Exposure Draft

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

FRS 102: changes to UK GAAP

A look at FRS 102 and some of the changes between itself and the standards it replaces

FRSSE 2015 amendments under UK GAAP framework

The new UK GAAP framework, mandatory from January 2015, does not dispense with the FRSSE

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

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

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

Uncertainty

Comments from ACCA to European Financial Reporting Group (EFRAG)

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

Charity SORP podcast

[21/06/2013] The Exposure Draft of the charities SORP is due to be released for public consultation.

Novation of derivatives and continuation of hedge accounting

Comments from ACCA to the International Accounting Standards Board, 2 April 2013.

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.

Related party technical factsheet

The Related Party Technical Factsheet referred to in the May edition of A&B will be available by the middle of May, 2013.

BIS: disclosure of directors’ remuneration

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 25 March 2013.

Accounting and long-tail liabilities: the case of asbestos

ACCA research report 130, by L. Moerman and S. van der Laan.

Protecting stakeholder interests in SME companies

John Davies, March 2013. This report discusses how four different countries – the UK, the US, Australia and Singapore – see the role of accounting information in protecting third-party interests in SME companies.

Have investors benefitted from China's IFRS Convergence?

This short paper summarises and puts into context the findings of ACCA's 2013 research report on IFRS convergence in China.

IASB: Annual improvements to IFRSs: 2011-2013 Cycle

Exposure Draft ED/2012/2, issued by the International Accounting Standards Board (IASB). Comments from ACCA to the International Accounting Standards Board, 18 February 2013.

Companies limited by guarantee

Often a source of confusion, this guide to what constitutes a company limited by guarantee should help.

Does IFRS convergence affect financial reporting quality in China?

ACCA research report 131, by E. Lee, M. Walker and C. Zeng.

FRC: thinking about disclosures in a broader context

Comments from ACCA to the Financial Reporting Council (FRC), 31 January 2013.

Exemption from preparing and filing accounts for qualifying subsidiaries

A look at the potential impact of the announcement that dormant subsidiaries could be exempted from the requirement to prepare and file accounts at Companies House

The future of UK GAAP - an update

The three new accounting standards are the next step in the process of converging UK GAAP with IFRS.

Small charitable donations

The Gift Aid Small Donations Scheme removes the requirement to keep detailed donor records for small donations

FRC accountancy scheme

Comments from ACCA to the Financial Reporting Council (FRC), 14 January 2013.

FRC sanctions guidance to tribunals

Comments from ACCA to the Financial Reporting Council (FRC), 14 January 2012.

Trustees and recovery of funds

The Charity Commission has issued guidance to Trustees on how it will approach recovery of funds from them.

Reporting issues for charities

ACCA in partnership with the Charity Commission have developed a podcast focusing on the key reporting issues facing Charities in the UK.

FRS 101

The new FRS 101 (FRED 47) will allow financial statements to be prepared for subsidiaries and parent companies using recognition and measurement as set out in EU-adopted IFRS, but with reduced disclosures.

Service charge accounts

Draft guidance has been issued on the conduct of engagements to report on service charge statements of account.

FRS 102

The long-awaited FRS 102 has been issued, completing the FRS 100, 101 and 102 suite. FRS 102 applies to the financial statements of entities that are not applying EU-adopted IFRS, FRS 101 or the FRSSE. It is effective from 1 January 2015, but may be adopted early for accounting periods ending on or after 31 December 2012.

Credit Union resources (Ireland)

Credit Union guidance on regulatory material, bad debt and the Credit Union Handbook

FRS 100

FRS 100 Application of Financial Reporting Requirements sets out how the new regime will work.

International accounting standards

a look at the international accounting standards

EFRAG: Towards a disclosure framework for the notes

Comments from ACCA to the European Financial Reporting Advisory Group (EFRAG), 21 December 2012

Proposal to establish an accounting standards advisory forum

Comments from ACCA to the IFRS Foundation, 15 December 2012

FRC: Proposed amendment to financial reporting exposure

Comments from ACCA to the Financial Reporting Council (FRC), 30 November 2012

Comprehensive review of the IFRS for SMEs

Comments from ACCA to the International Accounting Standards Board, 25 November 2012

IASB Post-implementation review: IFRS 8 operating segments

Comments from ACCA to the International Accounting Standards Board 5 November 2012

The state of sustainability report assurance in the ASX 100

Researching publicly available sustainability reports published by the ASX 100 provided data that were used to determine the extent of assurance of public sustainability disclosures, by whom, and to which, if any, assurance standard. ACCA and the Net Balance Foundation.

IFRS in the US: the investor's perspective

Emmanouil Schizas, November 2012. This report discusses the findings of a survey of US investors’ perceptions of IFRS and the prospects for convergence. It shows that, if the US were to move towards convergence, as most investors expect, a successful transition would hinge on investor education and communications, a clear framework for auditors and the accounting profession, and an appropriate level of US influence over the standard-setting process.

Global alignment: bringing consistency to reporting of Islamic finance through IFRS

ACCA and KPMG, November 2012. Islamic finance (IF) is growing rapidly, worldwide. Many IF institutions prefer to report in the principal global accounting regime, International Financial Reporting Standards (IFRS) – but because of the particular characteristics and nuances within IF, many jurisdictions require these institutions to apply accounting practices that take into account those differences, rather than purely applying IFRS. So how can the financial reporting of Islamic Finance be harmonised and made more consistent internationally? ACCA and KPMG held three high-level roundtables in Malaysia, Dubai and London to address the key issues and produce a package of recommendations. This report summarises the discussions.

Drafting review of revisions to the IFRS Foundation Constitution

Comments from ACCA to the IFRS Foundation, 23 October 2012

Replacement of UK accounting standards – some FAQs

This is an interim update on the replacement of existing UK accounting standards (FRSs and SSAPs)

BIS: Directors' pay: consultation on revised reporting regulations

Comments from ACCA to the Department of Business, Innovation and Skills, October 2012

Charity Commission updates guidance on internal financial controls (CC8)

Nigel Davies suggests now might be a good time to review your charity or charity client’s financial controls.

DEFRA: Greenhouse gas (GHG) emissions – draft regulations for quoted companies

Comments from ACCA to the Department for Environment, Food and Rural Affairs (Defra), 10 October 2012.

IPSASB: Consultation on IPSASB Work Programme 2013-14

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

IASB: Draft IFRIC interpretation DI/2012/2: put options written on non-controlling interests

Comments from ACCA to the IFRS Interpretations Committee, International Accounting Standards Board, 19 September 2012

FRC: Disciplinary schemes proposed changes

Comments from ACCA to the Financial Reporting Council (FRC), September 2012

FRC: how credit analysts view and use financial statements

FRC have produced a short paper that focuses on credit analysts’ requirements and what should, in their opinion, be the new information content of the financial statements

Charity Trustees' Reporting

Trustees have an obligation to report serious incidents or other matters relating to their charity. This should be done when the incident occurs but can also be brought to the Charity Commission’s attention when submitting the annual report.

HMRC: A general anti-abuse rule

Comments from ACCA to HM Revenue and Customs (HMRC), September 2012

IASB: Annual improvements to IFRSs - 2010-2012 cycle

Comments from ACCA to the International Accounting Standards Board, 3 September 2012

All change: Financial Reporting Council reformed

On 2 July the structure and functions of the Financial Reporting Council (FRC) changed conspicuously following parliamentary approval of its proposed reform

IFA: Eleven principles for effective business reporting processes

Comments from ACCA to the International Federation of Accountants, August 2012

IFRS Foundation: Due process handbook

Comments from ACCA to the IFRS Foundation, August 2012

Integrated reporting: the influence of King III on social, ethical and environmental reporting

This study analyses the annual reports of 10 major South African companies listed on the Johannesburg Stock Exchange (JSE) to assess the impact of the required introduction of integrated reporting on social, environmental and ethical reporting.