Reporting pre- and post-King III: what’s the difference?

This discussion paper summarises the findings of the report 'Integrated reporting: the influence of King III on social, ethical and environmental reporting' written for ACCA by Jill Solomon and Warren Maroun. It outlines ACCA’s recommendations made on the basis of this research.

UITF: Residential management companies financial statements

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

Hong Kong Securities and Futures Commission: The regulation of sponsors

Comments from ACCA to the Hong Kong Securities and Futures Commission, July 2012

Sanctions guidance for AADB tribunals under its accountancy scheme

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

High growth SMEs: understanding the leaders of the recovery

ACCA, July 2012. This report discusses the challenges, difficulties and the successes that Growth Oriented Entrepreneurs have in the US, European and BRICSA (Brazil, Russia, India, China and South Africa) and compares them to an international benchmark created by this study. The implications of the findings for governments, financiers and advisors are considered in terms of what support entrepreneurs need to build sustainable companies and thereby continue to stimulate their domestic and global economies.

Confidence accounting: a proposal

A consultation to discuss the problem of uncertainty inherent in many of the values in a set of accounts.

Director's Remuneration Reports

A look at the requirements for a directors' remuneration report as laid out by the Companies Act 2006.

Charities - fraud

The Charity Commission has updated its guidance on trustee duties to protect charities from fraud and financial abuse

An FRC update for directors of listed companies

The FRC has provided a very useful update on heightened country and currency risk for the interim financial reporting season

EFRAG: Improving the financial reporting of income taxes

Comments from ACCA to the Urgent Issues Task Force, July 2012

Access to finance for SMEs: a global agenda

ACCA, June 2012. This paper presents ACCA’s’ recommendations for the development of a visible and consistent global agenda on SME access to finance. It calls for intergovernmental organisations to develop and support a consistent platform for sharing best practice. It also encourages national governments to engage in this process, developing a long-lasting change in SME financing across the world.

In search of innovative solutions: report of the discussions from the FEE roundtable series 'access to finance for SMEs'

FEE SMP Task Force. This document reflects the outcome of debates held in expert roundtables organised by FEE, the Federation of European Accountants.

Charity Commission publishes new strategy on combating fraud

The Charity Commission is calling for charities to better protect themselves against fraud and financial crime.

Putting investors at the heart of the financial system

ACCA and Grant Thornton, April 2012. This report presents insights from a discussion among a group of global investors. It explores the views of investors and investor representatives in relation to existing global financial and accounting standards, and their opinions on the direction of change, and the opportunities and challenges facing investors. It also addresses how investors can be more central to the process of change.

Accounting for business combinations under common control

Comments from ACCA to the European Financial Reporting Advisory Group (EFRAG), 30 April 2012

Revised Financial Reporting Exposure Drafts 46-48 on the Future of Financial Reporting in the UK and Republic of Ireland

Comments from ACCA to the Accounting Standards Board, 26 April 2012

The FRC 2012/13 plan and levy proposals

Comments from ACCA submitted to CCAB for joint submission, 18 April 2012

Driving SME growth through an evolving finance function

Emmanouil Schizas, April 2012. This paper uses data from over 10,000 interviews with UK SMEs to show how financial capability is not the result of business growth, but one of its causes. It explores the evolution of the finance function from an informal process to a formal team or departments and highlights the critical events and concerns that drive its development.

Implementation of Charities Act 2011

The Charities Act 2011 comes into force on 14 March 2012 and consolidates previous charities legislation into a single Act.

Revenue from contracts with customers (ED/2011/6)

Comments from ACCA to the International Accounting Standards Board, March 2012

Transition guidance, proposed amendments to IFRS 10 (ED/2011/7)

Comments from ACCA to the International Accounting Standards Board, March 2012

Basel III and SMEs: getting the trade-off right

The provisions of Basel III, the global framework governing the regulation of bank capital, liquidity and leverage, will, for the coming years, determine the supply and cost of capital to businesses globally. The financial crisis presented policymakers with a choice between promoting business growth and safeguarding financial stability. This paper discusses how Basel III can be adapted to reflect the appropriate trade-off between the two.

Update for directors of listed companies

On 17 January the Financial Reporting Council (FRC) published an update for directors of listed companies in the UK to assist them in responding to increased country and currency risk in their annual and half-yearly financial reports.

Getting paid: lessons for, and from, SMEs

Paul and Boden, February 2012. This report brings together the experiences of business owners and managers as well as credit and finance professionals in businesses large and small, from the supplier's as well as the buyer's side. It finds that there is only so much government can do to protect small firms from abusive credit terms and late payment, but also a great deal that businesses can do for themselves. Published as part of ACCA's contribution to the UK Government's Finance Fitness Campaign.

SME internationalisation in Central and Eastern Europe

Rosana Mirkovic, February 2012. This report investigates both challenges and opportunities that exist in increasing the rate of SME international activity, with a particular focus on central and eastern Europe. Insights into the barriers to SME international activity, as well as policy recommendations and practical steps that can be taken to overcome these, will be of interest to the regional policy makers and business owners alike.

Effective dates and transition methods

Comments from ACCA to the International Financial Standards Board, January 2011

Proposals to reform the Financial Reporting Council

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

IASB: exposure draft on government loans (proposed change to IFRS 1)

Comments from ACCA to the International Accounting Standards Board, January 2012

IASB: exposure draft on investment entities

Comments from ACCA to the International Accounting Standards Board, January 2012

Adoption of integrated reporting by the ASX 50

This report investigates the state of integrated reporting among Australia’s 50 largest listed companies.

IASB: agenda consultation 2011

Comments from ACCA to the International Accounting Standards Board, November 2011

IIRC: towards integrated reporting: communicating value in the 21st century

Comments from ACCA to the International Integrated Reporting Committee, December 2011

CRD IV and small businesses: revisiting the evidence in Europe

CRD IV is one of the most important pieces of regulation ever to come out of the EU institutions and its implementation could determine the shape of the recovery from one of the most challenging times in the Union’s existence. Based on its analysis of the likely impact of CRD IV on lending to SMEs, this paper endorses UEAPME’s reaction to CRD IV and makes a set of ten recommendations for European policymakers in order to address the shortcomings of current proposals.

Nurturing Europe’s spirit of enterprise: how entrepreneurial executives mobilize organizations to innovate

Forbes, December 2011. This report uses a survey of 1,245 European executives in order to assess how personalities, external support mechanisms and internal structures determine firms ability to innovate

Future of financial reporting in the UK and Ireland: summary of ACCA member surveys

ACCA, April 2011. In order to assist ACCA form its response to the ASB consultations, ACCA conducted a survey of its members on the key issues related to convergence of UK GAAP with IFRS. This paper summarises the results of the survey, which more than 650 ACCA members took part in at networks events and online between January and March 2011.

International variations in IFRS adoption and practice

ACCA research report 124, by C. Nobes.

Concept release on possible changes to the auditor's report

Comments from ACCA to the Public Company Accounting Oversight Board (PCAOB), September 2011

BIS: executive remuneration

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 25 November 2011

BIS: the future of narrative reporting

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 25 November 2011

Residential service charge accounts

Guidance on accounting and reporting in relation to service charge accounts for residential properties

Female perspectives in the global economy

Rosana Mirkovic, October 2011. This report examines how ACCA’s female membership has experienced the global economic conditions, by tracking their responses to ACCA’s confidence and recovery indices. The findings point towards some notable differences between the female and male respondents in the areas of business support and access to finance. These lead to lessons for policymakers and others working towards closing the gender gap, which is prevalent in much of the world’s economic activity.

IPSASB: key characteristics of the public sector with potential implications for financial reporting

Comments from ACCA to the International Public Sector Accounting Standards Board, August 2011

BIS: simpler reporting for the smallest businesses

Comments from ACCA to the Department of Business, Innovation and Skills, November 2011

ASB: FRED 45, financial reporting standard for public benefit entities

Comments from ACCA to the Accounting Standards Board, July 2011

SEC: work plan for the consideration of incorporating IFRS into the financial reporting system for US issuers

Comments from ACCA to the Securities and Exchange Commission, July 2011

Framing the debate: Basel III and SMEs

The capital and liquidity provisions of Basel III are intended to shield the global financial system from a new financial crisis. Yet the extent to which they represent a good trade-off between financial stability and economic growth is still unclear. Policymakers still know little about the potential impact of Basel III on lending to SMEs, apart from the fact that it will be disproportionate. With the sector contributing half of the world's private-sector output, this uncertainty renders all existing impact assessments virtually irrelevant. In this discussion paper, ACCA considers how an impact assessment can be designed that would be 'about right' as opposed to very precisely wrong.

The future of microfinance in Kenya

Emmanouil Schizas, July 2011. ACCA's conference, 'Better Business Kenya 2011', considered the prospects of the microfinance industry. This paper summarises the resulting insights into four recommendations for the present and future leaders of the industry in Kenya.

Defra: Measuring and reporting of greenhouse gas emissions by UK companies: a consultation on options

Comments from ACCA to the Department for Environment, Food and Rural Affairs (Defra), July 2011.

A framework for extended audit reporting

Maastricht University, Netherlands. July 2011. A report commissioned by ACCA to examine a possible framework for extended audit reports in response to criticisms of the role of audit during the global financial crisis.

IPSASB: international public sector conceptual framework documents

Comments from ACCA to the International Public Sector Accounting Standards Board, June 2011

Technical Factsheet 168 - Valuing property and farming companies

A summary of the issues that need to be considered when engaged in the valuation of property and farming companies. Deals with: circumstances where an assets approach is appropriate, contingent taxation, the necessity for asset revaluation, issues surrounding hybrid companies and the levels of discount appropriate in considering minority interests in companies of this nature.

Technical factsheet 171 - Valuing goodwill

This Factsheet aims to provide the user with a summary of the issues that need to be considered when valuing goodwill in most types of companies.

Technical Factsheet 167 - Valuing trading companies

A summary of the issues that need to be considered when engaged in the valuation of companies of all sorts by using an earnings-based approach. The calculations will give an indication of the valuation which the buyer/seller may consider rather than an exact figure. Covers the application of Price Earnings ("P/E") ratios, EBITDA multiples and turnover multiples, discounted cash flow ("DCF") approaches, including discount rates, terminal values and appropriate cash flows, the normalisation of earnings, how to deal with minority interests and briefly looks at those situations where an earnings-based approach is not appropriate.

Technical Factsheet 169 - Valuing options

Guidance on simple tax-based option schemes such as Enterprise Management Initiative (“EMI”) schemes and the like, as well as the Black Scholes Option Pricing Model (“BSOPM”) and its application, an overview of more complex models such as barrier options, binomial and trinomial approaches and other types of valuation options.

ASB: FRED 43, application of financial reporting standards, and FRED 44, financial reporting standard for medium-sized entities

Comments from ACCA to the Accounting Standards Board, April 2011

IFRS: financial instruments: impairment

Comments from ACCA to the International Accounting Standards Board, April 2011

Strategy review

Comments from ACCA to the International Accounting Standards Board, February 2011

BIS: a long-term focus for corporate Britain

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 14 March 2011

IASB: hedge accounting

Comments from ACCA to the International Accounting Standards Board, March 2011

Parliamentary standards: annual review of the MPs' expenses scheme

Comments from ACCA to the International Public Sector Accounting Standards Board, February 2011

HMRC: business records checks

Comments from ACCA to HM Revenue and Customs (HMRC), February 2011

Disclosure of non-financial information by companies

Comments from ACCA to the European Commission, January 2011.

HM Treasury: review of the Financial Reporting Advisory Board

Comments from ACCA to HM Treasury January 2011

Sustainability reporting matters: what are national governments doing about it?

Hannah Jones, December 2010. This paper makes a number of recommendations for national governments and organisations that are responsible for developing guidelines and frameworks for sustainability reporting in the future.

SMEs: rebuilding a foundation for post-recovery growth

Forbes, December 2010. Report of a survey of more than 1,750 SMEs from six international markets: Canada, China, Italy, Singapore, South Africa and the UK, conducted by Forbes Insights in October 2010. The survey was carried out in association with ACCA, CGA-Canada and CNDCEC.

Severe hyperinflation, proposed amendment to IFRS 1

Comments from ACCA to the International Accounting Standard Board, 30 November 2010

The annual improvements process: proposals to amend The Due Process Handbook for the IASB

Comments from ACCA to the International Accounting Standards Board, 30 November 2010

IASB: stripping costs in the production phase of a surface mine

Comments from ACCA to the International Accounting Standards Board, 30 November 2010

IASB: insurance contracts

Comments from ACCA to the International Accounting Standards Board, 30 November 2010

IFRS for SMEs

On 29 October 2010 the Accounting Standards Board (ASB) published its proposals for the future of financial reporting in the UK and Republic of Ireland.

Methods for recognition of actuarial gains and losses under IAS 19

Sreet and Glaum, November 2010. This paper extends the author's 2008 work, published by ACCA as Adoption of IAS 19 by Europe's Premier Listed Companies.

EC: the Interest and Royalties Directive and Report to the Council, COM(2009)179

Comments from ACCA to the European Commission, October 2010

BIS: the future of narrative reporting: a consultation

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 19 October 2010

Small business finance and the recovery: results of the 2010 SME credit and finance surveys.

ACCA and CBI, October 2010. In the summer of 2010, ACCA and the CBI joined forces to make an evidence-based contribution to the debate about how to finance a private sector recovery in the UK. This report presents the findings of that research.

Coming of age: what next for the UK regulatory reform agenda?

Emmanouil Schizas, October 2010. This report considers how regulation can possibly still be a major concern for small and medium-sized enterprises in a country such as the UK, whose regulatory reform programme is considered to be world-class. Based on a template of regulation-as-taxation, it builds on first principles to discuss the fundamental shortcomings of the UK's Better Regulation programme and how it can be reformed.

EFRAG: consultation on proactive work

Comments from ACCA to the European Financial Reporting Advisory Group (EFRAG), September 2010

IASB: presentation of items of other comprehensive income: proposed amendments to IAS1

Comments from ACCA to the International Accounting Standards Board, September 2010

Accounting for financial instruments and revisions to the accounting for derivative instruments and hedging activities

Comments from ACCA to the Financial Accounting Standards Board, September 2010

BIS: time to train? Consultation on the future of the right to request time to train policy

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 15 September 2010

Small business: a global agenda

Emmanouil Scizas, September 2010. This paper reviews small and medium-sized enterprises and their needs for the benefit of those involved in the design of policy, regulation and business support around the world.

Supporting enterprise globally

ACCA, September 2010. This policy paper outlines ACCA's research, derived policy positions and case studies from across the world. It outlines how ACCA engages with the SME sector and identifies key issues that should be high up on the SME agenda of governments, regulators, and standard setters across the world.

Defined benefit plans (proposed amendments to IAS19)

Comments from ACCA to the International Accounting Standards Board, September 2010.

Urgent Issue Task Force Abstract 47

A look at the extinguishing financial liabilities with equity instruments.

Hitting the notes, but what’s the tune?

ACCA and Deloitte, a leading professional services firm, have worked together on this joint report, exploring the current and anticipated future challenges in narrative reporting within annual reports.

The future of national standard setters

Richard Martin, September, 23010. This paper sets out ACCA's general position on the future of national accounting standards setters in the context of the spread of global standards. it discusses a number of possible roles for them in the future, and considers the relevance of each of these roles based on a survey of nine countries that have adopted IFRS to some extent.

UK ASB: improvements to Financial Reporting Standards 2010

Comments from ACCA to the Accounting Standards Board, August 2010.

EC: modernisation of directive 2004/109/EC on the harmonisation of transparency requirements

Comments from ACCA to the European Commission, August 2010.

Extractive activities

Comments from ACCA to the International Accounting Standards Board, July 2010.

Conceptual framework for financial reporting: the reporting entity

Comments from ACCA to the International Accounting Standards Board, July 2010.

Fair value option for financial liabilities

Comments from ACCA to the International Accounting Standards Board, July 2010.

Quarterly small business credit update: Q2, 2010

ACCA, July, 2010. A quarterly digest of information on small business access to finance.

IASB: revenue from contracts with customers

Comments from ACCA to the International Accounting Standards Board, 22 October 2010.

IPSASB: improvements to IPSASs

Comments from ACCA to the International Public Sector Accounting Standards Board, June 2010.

Service concession arrangements: Grantor

Comments from ACCA to the International Public Sector Accounting Standards Board, June 2010.

Financial instruments: amortised cost and impairment

Comments from ACCA to the International Accounting Standards Board, June 2010.

EC: stakeholder consultation on smart regulation

Comments from ACCA to the European Commission, June 2010.

BIS: registration of charges created by companies and Limited Liability Partnerships

Comments from ACCA to the Department for Business, Innovation and Skills (BIS), 18 June 2010.

What is the future of UK GAAP?

ACCA, June 2010. This policy paper outlines the reasons why ACCA believes that replacing UK GAAP with a system of standards based on IFRS is the right course. It outlines which entities should apply IFRS in full and which should use the IFRS for SMEs.

The new UK GAAP: how would the numbers look?

ACCA, May 2010. A report on whether the IFRS for SMEs will affect the reported profits of UK companies.

Revised LLP SORP

The CCAB issued a revised LLP SORP on 31 March 2010 effective for periods commencing on or after 1 January 2010.