This book has been designed to give a clear, concise and comprehensive reference to the new financial reporting framework for small and micro-entities.
It provides comprehensive and practical guidance on the new micro-entities legislation and the new small companies' financial reporting framework. Its aim is to help those using the new standards for the first time, by explaining the differences in terminology, recognition, measurement and presentation and how to transition from the previous rules to the new ones, with the aid of real-life examples and model accounts.
Written by a specialist on small company reporting issues, it outlines the theory of the new UK GAAP regime, and explains why transactions and events affecting the financial statements are disclosed in a certain way, to enable preparers of small company financial statements to tailor certain disclosures to their client or company.
This title takes full account of:
The new FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland as amended for small companies
FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime
Companies Act 2006 effective from 6 April 2015.
"Struggling with something accounts related at work, couldn't get answer, Looked in one of @stecollings @BloomsburyTax books and there it was!"
April 9th 2017
Steve Collings is the audit and technical partner at Walmsley Associates. He is a well-respected trainer on audit and financial reporting and has written several well respected books including two for Bloomsbury Professional
Contents Chapter 1 Introduction Chapter 2 The New Small Companies Regime Chapter 3 The Financial Statements Chapter 4 The Elements of Financial Statements Chapter 5 Reporting the Substance of Transactions Chapter 6 Contentious Areas of the Financial Statements Chapter 7 Small Company Legal Requirements Chapter 8 Consolidated Financial Statements Chapter 9 Related Parties Chapter 10 Transactions with Directors Chapter 11 Financial Reporting for Micro-entities Chapter 12 Financial Reporting of Key Areas of the Accounts Chapter 13 Small Company Audits and Ethical Standards Chapter 14 The Transition to New UK GAAP