Interpretation and Application of UK GAAP: For Accounting Periods Commencing on or After 1 January 2015 (Wiley Regulatory Reporting)

Interpretation and Application of UK GAAP: For Accounting Periods Commencing on or After 1 January 2015 (Wiley Regulatory Reporting)

By: Steve Collings (author)Paperback

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Get up to date on the latest UK GAAP, with practical application guidance Interpretation and Application of UK GAAP is a comprehensive, practical guide to applying UK GAAP at all levels, for accounting periods commencing on or after January 1, 2015. This book examines all of the core principles for every business, from subsidiaries of major listed companies right down to the very small, owner-managed business. Each chapter includes a list of relevant disclosure requirements to facilitate understanding, and real-world examples bring theory to life to provide guidance toward everyday application. Readers gain practical insight into the preparation of accounts under the EU-adopted IFRS, FRSs 100, 101, and 102, the FRSSE, and the Companies Act 2006, with expert guidance as to which requirements apply in which situations, and to which companies, and the type of disclosure each scenario requires. The book also includes detailed analysis of the planned changes to the Small Companies' Regime which are scheduled to take effect in 2016. With sweeping changes coming into effect from January 1st 2015, financial statement preparers must have a sound appreciation of how the new UK GAAP works. This book provides a complete guide, with the latest regulations and straightforward advice on usage. * Understand UK GAAP application at all levels * Learn how to handle all relevant key accounting treatments * Refer to complete disclosure requirement lists for each topic * Get up to date on the latest area-specific practices With new accounting practices in many broad areas including investment property, inventory valuations, deferred tax, fixed assets, and more, auditors and accountants need an awareness of how the new financial reporting regime will affect them. Interpretation and Application of UK GAAP is the most comprehensive reference, with the latest information and practical guidance.


About the Author vii Foreword ix Preface xi Acknowledgements xiii Introduction xv 1 General Requirements of the Companies Act 2006 1 2 The Statutory Audit Requirement and Accounting Principles 27 3 The Primary Financial Statements and Disclosure Notes 43 4 Financial Reporting for Smaller Companies 65 5 Summary of the Key Differences between FRS 102 and Old UK GAAP 83 6 Consolidated and Separate Financial Statements 103 7 Accounting Policies, Estimates and Errors 125 8 Revenue Recognition 137 9 Assets Held for Sale and Discontinued Operations 153 10 Employee Benefits 159 11 Income Tax 177 12 Intangible Assets 199 13 Property, Plant and Equipment and Investment Properties 213 14 Borrowing Costs 237 15 Impairment of Assets 241 16 Government Grants 261 17 Financial Instruments 267 18 Inventories and Work-in-Progress 299 19 Share-based Payment 309 20 Leases 321 21 Provisions and Contingencies 341 22 Statement of Cash Flows 351 23 Investments in Associates and Joint Ventures 365 24 Related Parties 379 25 Specialised Activities 395 26 Liabilities and Equity 421 27 Events after the Reporting Period 443 28 Foreign Currency Translation 457 29 Small Company Abbreviated Financial Statements 467 30 Reduced Disclosure Framework 485 31 First-Time Adoption of FRS 102 491 Index 505

Product Details

  • ISBN13: 9781118819272
  • Format: Paperback
  • Number Of Pages: 546
  • ID: 9781118819272
  • weight: 954
  • ISBN10: 1118819276

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