Interpretation and Application of Uk Gaap - For Accounting Periods Commencing on Or After 1 January 2015

Get up to date on the latest UK GAAP, with practical application guidanceInterpretation 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 practicesWith 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.

Sommario

About the Author viiForeword ixPreface xiAcknowledgements xiiiIntroduction xv1 General Requirements of the Companies Act 2006 12 The Statutory Audit Requirement and Accounting Principles 273 The Primary Financial Statements and Disclosure Notes 434 Financial Reporting for Smaller Companies 655 Summary of the Key Differences between FRS 102 and 'Old' UK GAAP 836 Consolidated and Separate Financial Statements 1037 Accounting Policies, Estimates and Errors 1258 Revenue Recognition 1379 Assets Held for Sale and Discontinued Operations 15310 Employee Benefits 15911 Income Tax 17712 Intangible Assets 19913 Property, Plant and Equipment and Investment Properties 21314 Borrowing Costs 23715 Impairment of Assets 24116 Government Grants 26117 Financial Instruments 26718 Inventories and Work-in-Progress 29919 Share-based Payment 30920 Leases 32121 Provisions and Contingencies 34122 Statement of Cash Flows 35123 Investments in Associates and Joint Ventures 36524 Related Parties 37925 Specialised Activities 39526 Liabilities and Equity 42127 Events after the Reporting Period 44328 Foreign Currency Translation 45729 Small Company Abbreviated Financial Statements 46730 Reduced Disclosure Framework 48531 First-Time Adoption of FRS 102 491Index 505

Riassunto

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.

Dettagli sul prodotto

• Autori: Steve Collings, Steven Collings
• Editore: Wiley, John and Sons Ltd
• Lingue: Inglese
• Formato: Tascabile
• Pubblicazione: 20.03.2015
• EAN: 9781118819272
• ISBN: 978-1-118-81927-2
• Pagine: 546
• Serie: Wiley Regulatory Reporting; Wiley Regulatory Reporting
• Categorie: Scienze sociali, diritto, economia > Economia > Economia aziendale; Rechnungswesen, Rechnungslegung, Accounting, GAAP, Allg. Rechnungswesen