Material concerns

While the widening scope of corporate reporting and assurance is making the concept of materiality more important, it is also becoming more complex.

SMEs and foreign exchange risk: are small and medium-sized accountancy practices up to speed?

This report explores the role of accountancy practitioners in managing the foreign exchange exposures of SME clients, and what the accountancy profession could do to improve its offering to small businesses.

HMRC enquiries – re-opening earlier years

Tribunal case reveals that HMRC’s method of calculating income for earlier years on the basis of spreading is open to challenge where a more reasonable and accurate method is appropriate

New charity SORP: have your say

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

Remittance basis 2011-12: HMRC exercise

HMRC announce an "educational exercise" aimed at taxpayers taxed on the remittance basis due to a perceived lack of understanding of what constitutes a remittance.

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.

Defined benefit plans: employee contributions, proposed amendments to IAS 19

Comments from ACCA to the International Accounting Standards Board (IASB), 25 July 2013

The draft framework for integrated reporting

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

NHS clinical commissioning group’s draft code of governance

Comments from ACCA to The Institute of Chartered Secretaries and Administrators, 24 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

Tapping into SME international potential

ACCA, July 2013. This paper presents a number of recommendations for increasing SME presence in international trade. Aimed at policy makers and broader business support stakeholders, the paper identifies critical success factors that hinder cross-border trade for SMEs, as well as areas in need of further development that remain under-exploited by policy makers and business owners alike.

iForm problems and P11D, P11D(b), and P9D

We have been informed by HMRC that it will accept that there are problems with the iForm (P11D, P11D(b), and P9D which are all part of the same i-form release) and these will be treated as ‘reasonable excuse’ if reliance on the iForm results in delays in filing.

IASB: Financial instruments: expected credit losses

Comments from ACCA to the International Accounting Standards Board

How can the NHS payment system do more for patients?

Comments from ACCA to Monitor, July 2013.

VAT: single or multiple supplies

Subjective judgement required to apply the basic principles and guidance, as a recent tax case illustrates.

Loan relationships - common problems demystified

Understand the basics of the loan relationships legislation and some of the more common real-life scenarios that crop up.

Annual tax on high-value enveloped dwelling properties

Prepare clients with high-value properties for returns due in October.

Developing global standards for the reporting and assurance of company alignment with the UN guiding principles on business and human rights

Comments from ACCA to Mazars and Shift.

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

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

Loans to directors, trusts and LLPs

Anti-avoidance legislation aimed at loans to directors to be extended.

Global economic conditions survey report: Q2, 2013

The global economic conditions survey, carried out jointly by ACCA and IMA since late 2011, is the largest regular economic survey of accountants in the world, both in terms of the number of respondents and the scope of economic variables it monitors.

Paragraph 47: international perspectives one year on

This paper captures stakeholder and national perspectives on paragraph 47 (the reporting outcomes of Rio+20), based on a series of roundtables involving experts from various locations round the world.

Paving the way to opportunities: women in leadership across the Commonwealth

This report by Janjuha-Jivraj and Arif Zaman, presents the most comprehensive review of the progress of women in leadership positions across the Commonwealth.

Audit and Integrity: maximising shareholder value

ACCA, July 2013. This report summarises the key themes that emerged from a series of roundtable discussions held by ACCA in Trinidad, Barbados and Jamaica. The discussions covered a wide range of topical issues in audit and tried to map out some future directions for stakeholders in the audit process.

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.

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

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

Public concern at work

Comments from ACCA to the Whistleblowing Commission, 21 June 2013.

The long-term financing of the EU economy

Comments from ACCA to the European Commission, 20 June 2013.

Uncertainty

Comments from ACCA to European Financial Reporting Group (EFRAG)

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.

Partial exemption - education

A framework that provides guidance on Partial Exemption (PE) for Higher Education Institutions (HEIs) has been made available by HMRC.

Seed enterprise investment scheme - HMRC guidance

Several changes to the SEIS were announced in this year’s Budget.

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

Updated HMRC notices

HMRC updated a number of notices in April.

Charity SORP podcast

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

In safe hands: the future of financial services

Gill Ringland from SAMI Consulting discusses the findings of a scenario analysis project carried out by her firm and the Long Finance Forum of Futurists (L3F).

Novation of derivatives and continuation of hedge accounting

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

Clarification of acceptable methods of depreciation and amortisation: proposed amendments to IAS16 and IAS38

Comments from ACCA to the International Accounting Standards Board, 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.

Termination payments - a refresher

The tax consequences of termination payments on cessation of employment

Beating the drum

With commercially minded investors joining in with ever louder calls for organisations to address sustainability issues, the Earth Summit in Rio highlights the subject’s growing importance to the business agenda.

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.

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.

Accession of Croatia to the European Union

HMRC has issued Excise Information Sheet (13) 04 Accession of Croatia to the European Union

Inheritance tax and quoted securities

The list of recognised stock exchanges for post-death IHT revaluations has been updated.

Insolvency

HMRC have re-issued Notice700/56 Insolvency.

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.