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UK Financial Statements: Presentation and Disclosure Requirements

  • Kartonierter Einband
  • 792 Seiten
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Informationen zum Autor Steve Collings is the audit and technical partner at Walmsley Associates. He has authored several titles f... Weiterlesen
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Beschreibung

Informationen zum Autor Steve Collings is the audit and technical partner at Walmsley Associates. He has authored several titles for Bloomsbury and is acknowledged expert in both UK GAAP and IFRS Vorwort This book is aimed at practitioners, auditors and accountants in industry as well as student accountants that illustrates the way in which financial statements are prepared to UK GAAP principles and explains how ensure the right disclosures are applied to different sizes of companies. Zusammenfassung This publication contains model financial statements to illustrate how the disclosure requirements under new UK GAAP (and EU-endorsed IFRS) should be prepared. The book offers preparers of financial statements detailed guidance on getting the accounts and associated disclosure requirements correct under a new reporting framework.Many books offering illustrative financial statements merely focus on the disclosure requirements only. This publication is a âone-stop-shopâ™ which focuses on the wider issues around financial statement preparation. Various areas of the Companies Act 2006 require differing levels of disclosure depending on whether the entity is a micro-entity, small company, medium-sized or large business and this book is structured in such a way that each type of business is covered in its own chapter, hence making each chapter a standalone chapter depending on the size of the entity concerned. Real-life financial statements will be used to aid comprehension. In addition detailed explanations of why certain things are done and disclosed will be incorporated within each chapter to enable preparers to understand why they are disclosing certain items.Coverage includes:Introduction;Overview of the revised Companies Act 2006;Summary of new UK GAAP and emerging issues and how to deal with them;Overview of small and micro-entity reporting requirements;Sample micro-entity financial statements;Sample small company financial statements;Sample medium-sized company financial statements;Sample large (unlisted) company financial statements;Sample EU-adopted IFRS financial statements;Abridged and adapted financial statements;Consolidated financial statements â overview of the requirements;Sample consolidated financial statements prepared to UK GAAP;Sample consolidated financial statements prepared to EU-adopted IFRS;Auditing financial statement disclosures.Appendices include: Disclosure checklists for micro-entities, small companies, medium-sized companies, large companies and EU-endorsed IFRS. Inhaltsverzeichnis Chapter 1 Introduction Aims and objectives of the bookDevelopment of accounting standardsInteraction of accounting standards with legislationFiling requirements for Companies HouseChapter 2 Overview of the revised Companies Act 2006 IntroductionSize thresholdsLimited liability partnershipsRevision of the Companies Act 2006 for small and micro-entitiesEarly-adoption of the revised Companies Act 2006Chapter 3 Summary of new UK GAAP and Emerging IssuesOverview of the Financial Reporting StandardsKey differences: FRS 102 versus previous UK GAAPKey differences: FRS 105 versus previous UK GAAPTransition to new UK GAAPTransition to FRS 105Emerging issuesReduced disclosure frameworksStaff Education NotesDisclosure requirements relating to the transitionInterim Financial ReportingChapter 4 Overview of Small and Micro-Entity Reporting RequirementsLegally required disclosures for micro-entitiesSection 1A FRS 102 Small EntitiesLegally required disclosures for small entitiesEncouraged disclosures for small entitiesTrue and fair viewMisleading financial statementsChapter 5 Abridged and Adapted Financial StatementsIntroductionAbridged balance sheetAbridged profit and loss accountAdapted financial statementsChapter 6 Consolidated Financial Statement: Overview of the RequirementsIntroductionContro...

Vorwort
This book is aimed at practitioners, auditors and accountants in industry as well as student accountants that illustrates the way in which financial statements are prepared to UK GAAP principles and explains how ensure the right disclosures are applied to different sizes of companies.

Autorentext
Steve Collings is the audit and technical partner at Walmsley Associates. He has authored several titles for Bloomsbury and is acknowledged expert in both UK GAAP and IFRS

Zusammenfassung
This publication contains model financial statements to illustrate how the disclosure requirements under new UK GAAP (and EU-endorsed IFRS) should be prepared. The book offers preparers of financial statements detailed guidance on getting the accounts and associated disclosure requirements correct under a new reporting framework. Many books offering illustrative financial statements merely focus on the disclosure requirements only. This publication is a 'one-stop-shop' which focuses on the wider issues around financial statement preparation. Various areas of the Companies Act 2006 require differing levels of disclosure depending on whether the entity is a micro-entity, small company, medium-sized or large business and this book is structured in such a way that each type of business is covered in its own chapter, hence making each chapter a standalone chapter depending on the size of the entity concerned. Real-life financial statements will be used to aid comprehension. In addition detailed explanations of why certain things are done and disclosed will be incorporated within each chapter to enable preparers to understand why they are disclosing certain items. Coverage includes: Introduction; Overview of the revised Companies Act 2006; Summary of new UK GAAP and emerging issues and how to deal with them; Overview of small and micro-entity reporting requirements; Sample micro-entity financial statements; Sample small company financial statements; Sample medium-sized company financial statements; Sample large (unlisted) company financial statements; Sample EU-adopted IFRS financial statements; Abridged and adapted financial statements; Consolidated financial statements overview of the requirements; Sample consolidated financial statements prepared to UK GAAP; Sample consolidated financial statements prepared to EU-adopted IFRS; Auditing financial statement disclosures. Appendices include: Disclosure checklists for micro-entities, small companies, medium-sized companies, large companies and EU-endorsed IFRS.

Inhalt
Chapter 1 Introduction Aims and objectives of the book Development of accounting standards Interaction of accounting standards with legislation Filing requirements for Companies House Chapter 2 Overview of the revised Companies Act 2006 Introduction Size thresholds Limited liability partnerships Revision of the Companies Act 2006 for small and micro-entities Early-adoption of the revised Companies Act 2006 Chapter 3 Summary of new UK GAAP and Emerging Issues Overview of the Financial Reporting Standards Key differences: FRS 102 versus previous UK GAAP Key differences: FRS 105 versus previous UK GAAP Transition to new UK GAAP Transition to FRS 105 Emerging issues Reduced disclosure frameworks Staff Education Notes Disclosure requirements relating to the transition Interim Financial Reporting Chapter 4 Overview of Small and Micro-Entity Reporting Requirements Legally required disclosures for micro-entities Section 1A FRS 102 Small Entities Legally required disclosures for small entities Encouraged disclosures for small entities True and fair view Misleading financial statements Chapter 5 Abridged and Adapted Financial Statements Introduction Abridged balance sheet Abridged profit and loss account Adapted financial statements Chapter 6 Consolidated Financial Statement: Overview of the Requirements Introduction Control relationships Accounting policies Accounting reference dates Overview of the consolidation process Chapter 7 Auditing Financial Statement Disclosures Overview of auditor's opinions Directors' report disclosures Reporting inconsistencies Inadequate disclosures Going concern disclosures Related party disclosures Non-adjusting post balance sheet events disclosures Appendices Sample Micro-entity Financial Statements Sample Small Company Financial Statements Sample Medium-sized Company Financial Statements Sample Large (Unlisted) Company Financial Statements Sample EU-adopted IFRS Financial Statements Sample Consolidated Financial Statements Prepared to FRS 102 Sample Consolidated Financial Statements Prepared to EU-adopted IFRS Disclosure checklist - micro-entity Disclosure checklist - small entity Disclosure checklist - medium-sized entity Disclosure checklist - large company Disclosure checklist - EU-adopted IFRS reporter

Produktinformationen

Titel: UK Financial Statements: Presentation and Disclosure Requirements
Autor:
EAN: 9781784515362
ISBN: 978-1-78451-536-2
Format: Kartonierter Einband
Herausgeber: Bloomsbury Publishing PLC
Genre: Betriebswirtschaft
Anzahl Seiten: 792
Gewicht: 1212g
Größe: H160mm x B237mm x T46mm
Jahr: 2016