Disclosure initiative: proposed amendments to IAS7

Comments from ACCA to the International Accounting Standards Board.

Expenses and benefits

A number of changes came into force on 6 April

Proposed changes to Part C of the Code addressing presentation of information and pressure to breach the fundamental principles

Comments from ACCA to the International Ethics Standards Board for Accountants.

Proposed changes to Part C of the Code addressing presentation of information and pressure to breach fundamental principles – IESBA consultation

The International Ethics Standards Board for Accountants (IESBA) has proposed changes relating to accountants in business regarding presentation of information and pressure to breach the fundamental principles.

Tomorrow’s finance enterprise

This report investigates the key influences shaping the future role of the CFO and tomorrow’s finance enterprise.

Prompt payment discount invoice changes

There have been amendments to the Prompt Payment Discount legislation from 1 April 2015.

The drivers of audit quality

ACCA and Macquarie University conducted an online survey about perceptions of CFOs, auditors and company directors on the drivers of audit quality.

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.

Review of suspicious activity report (SARs) regime

Comments from ACCA to the Strategic Centre for Organised Crime.

Universal Credit

Universal Credit is being introduced in stages across the country and the guidance has once again been updated.

VAT update

Revenue and Customs Brief 2 (2015): VAT grouping rules and the Skandia judgment explains HMRC’s current position following the decision of the European Court of Justice judgment.

Charities

Changes to the audit requirement for charities have been announced, with the government stating that implementation of the changes will be brought forward.

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.

Auditing and ethical standards – implementation of the EU audit directive and audit regulation

Comments from ACCA to the Financial Reporting Council.

Increasing gender diversity to boost performance

This paper aims to help finance professionals understand the value of gender diversity and make the business case for diversity to their peers.

HMRC sets out payroll penalties approach

Employers that have received an in-year late filing penalty for the period 6 October 2014 to 5 January 2015 and were three days late or less should appeal online.

GAAP: Model accounts

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

VAT Update - March 2015

Updates on VAT MOSS and businesses which are alcohol wholesalers.

New guidance for trustees of charities

The Charity Commission has issued guidance for trustees considering tax arrangements.

Tax penalty regime, mitigation, suspension and current developments

HMRC is examining its tax penalty regime. Learn how and have your say.

Finance Bill 2015

A summary of the key provisions included in the Finance Bill 2015 and measures that have an immediate effect.

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.

Revenue and Customs Brief 42 (2014): integration of claims in insolvencies

This brief aims to alert the insolvency profession to upcoming changes in how HMRC deals with the tax affairs of insolvent taxpayers.

Pension auto-enrolment - What practising accountants can and cannot do

Guidance on the level of work that ACCA members in practice are permitted to undertake for their clients regarding pension auto-enrolment, plus useful resources.

Consultation: penalties

HMRC has issued HMRC Penalties: a Discussion Document which is open for comment until 11 May.

Public sector reporting

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

Double taxation

This page brings together information on double tax treaties in force, along with details of recent changes.

Improving the structure of the code of ethics for professional accountants

Comments from ACCA to the International Ethics Standards Board for Accountants.

Charity tax

The Charity Commission has issued guidance for trustees considering tax arrangements.

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.

Sustainable healthcare systems: an international study

This report reveals how well the existing healthcare systems in 11 countries are coping with the challenges of changing demographics and technological and economic change.

Regulatory fees and levies: policy proposals for 2015/16

Comments from ACCA to the Financial Conduct Authority.

European Commission proposal for a revised shareholder rights directive

This paper outlines ACCA’s key messages on shareholders rights in Europe and how they fit into the wider governance agenda.