Manual of Accounting New UK GAAP PACK 2015

Manual of Accounting New UK GAAP PACK
Manual of Accounting New UK GAAP PACK 2015
PwC
9781780438276
30/07/2015
2015
£85.00
Pb
Bloomsbury Professional

While the requirements of FRS 102 are in some ways less onerous than the existing UK set of standards, there will still be a large onus on companies and their advisors to plan properly as they make the transition to adopting the new standard. There are a number of factors accountants need to consider in adopting the new standard such as the way in which a number of areas will be accounted for e.g. subsequent expenditure on fixed assets; leases, and employee benefits. Also the terminology of the new standard will be unfamiliar to many, and there will be some changes to the format of the financial statements.
Readers will benefit from the usual well-structured and practical nature of the commentary. Worked examples are prevalent and as new editions are published examples from real life companies will be added.

The book focusses on each area of the financial statement in turn and explains how they are treated by FRS 102 as opposed to the existing UK GAAP. There are chapters covering various specialist sectors such as agriculture; financial institutions; oil and gas; insurance, and public benefit entities. The final chapter gives some guidance on the processes that need to be considered as businesses make the transition from the existing set of standards to FRS 102.

UK GAAP Illustrative Financial Statements: FRS 102 Example Accounts (9781780438252)

FRS 102 Illustrative Financial Statements covers the financial statements of two fictional entities to illustrate the disclosure and presentation requirements of FRS 102 for a group and for a single entity, and also incorporate UK company law disclosures. It also includes commentary for preparers.

This edition includes the following new illustrative financial statements:

New UK GAAP Group Limited
The financial statements include:
• Income statement presentation of discontinued operations.
• Detailed illustrative accounting policies for a group and commentary thereon.
• Disclosures of acquisitions and acquisition accounting.
• Disclosures of impairments of goodwill.

Narrative reporting includes:
• Strategic report and key principles of the FRC guidance for preparers.
• Illustrative auditor's report for group reporting under FRS 102.

New UK GAAP Limited
The financial statements include:
• Income statement and statement of comprehensive income.
• Detailed illustrative accounting policies for a company and commentary thereon.
• An example of group share based payment arrangement accounting.
• Capitalisation of borrowing costs.
• New FRS 102 financial instrument disclosures
• Multi-employer pension scheme disclosures
• Transition statement (using option 1 of FRC Staff Education Note)

Narrative reporting includes:
• Strategic report and key principles of the FRC guidance for preparers.
• Illustrative auditor's report

These illustrative financial statements include FRS 102 disclosures. They do not, however, include all possible disclosures and where necessary preparers will need to refer to the standard itself.

Enter the Student Discount code here