This title provides accountants and auditors with easy to follow and well structured guidance on the preparation of group accounts in line with UK GAAP. Group accounts must be prepared, by law, for medium-sized and large groups. Listed companies are required to prepare their accounts in line with International Financial Reporting Standards but larger unlisted companies can prepare their statements using UK GAAP. Groups are very common in the UK and are likely to become even more common when corporation tax rates increase in the future as there are various tax advantages to operating under a group structure. Group structures can vary (e.g. horizontal, vertical, hybrid, D-shaped|) and preparing financial accurate financial statements can be complex as a result. While there is a lot of guidance on producing accounts under IFRS, there is every little in evidence dealing with the UK GAAP rules. This title addresses this gap. The commentary identifies the differences between IFRS and UK GAAP in the treatment of group accounts. The differences between accounts produced pre and post Brexit are also covered. All commentary is supported throughout by the inclusion of worked practical examples based on the authors experience dealing with clients and running training courses. This title is included in Bloomsbury Professional's Financial Reporting for Smaller Companies online service.

Based on 4 years' worth of understanding, this new edition of Financial Reporting for Unlisted Companies in the UK and the Republic of Ireland details how the standard should be applied in different circumstances. This is conveyed using many real-life examples from practice. The content has also been restructured so it is more in line with the structure of FRS 102. This edition of the title also incorporates the micro-entities regime, which had not been transposed into company law at the time the 1st edition was written. The book has also been revised with the changes brought in through the FRC's Triennial Review which was published in December 2017. The principal amendments to the standard are as follows: - The simplification of the measurement of directors' loans to small entities - A requirement for fewer intangible assets to be separated from goodwill in a business combination - Permit investment property rented to another group entity is to be measured by reference to cost, rather than fair value - There is expansion of the circumstances in which a financial instrument may be measured at amortised cost, rather than fair value - The definition of a financial institution has been simplified. New case law covered includes: - Companies Act 2006 and related SIs - FRS 102 The Financial Reporting Standard Applicable in the UK and the Republic of Ireland (March 2018) - FRS 105 The Financial Reporting Standard Applicable to the Micro-entities Regime (March 2018)

A practical manual for preparing UK GAAP-compliant disclosures UK GAAP Financial Statement Disclosures Manual is the practical handbook accounting professionals need to prepare audit-proof financial statements. The recent establishment of the new UK GAAP has brought significant changes to financial reporting, and this guide collects all of the latest guidelines into one place. Clear, concise and heavily geared toward practical application, this book is designed for easy navigation with stand-alone chapters and real-world examples. You'll find step-by-step guidance for the entire disclosure process, with explicit instruction on what to include, how to include it and why. Financial statements prepared from 2015/2016 in the UK and Republic of Ireland will appear significantly updated, and this manual gives you the guidance you need to understand what's required to achieve full compliance. Insufficient or incorrect disclosures are frequently the reason why financial statements are rendered deficient. This book provides practitioners with a reference and guide for all aspects of financial statement disclosure preparation. Get up to speed on the most recent UK GAAP guidelines Understand the 'what' and 'why' of disclosure statements Study real-world example statements for practical guidance Prepare statements that stand up to auditor and regulator scrutiny Many practitioners fall afoul of regulators' criticisms with subjective, incomplete, omitted or incorrect disclosures, resulting in sanctions being brought against the practitioner or the firm. Financial statement disclosure emphasis is on transparency at a time when changes in the profession require an entirely new method of preparation. For practitioners who need to stay ahead of the curve, UK GAAP Financial Statement Disclosures Manual is the invaluable reference to keep within arm's reach.

Accounts and Audit of Limited Liability Partnerships gives comprehensive guidance on how to apply UK GAAP to limited liability partnerships and takes readers through all the requirements for LLP accounting as a result of the implementation of FRS 102 and the revised LLP SORP. The book includes sets of pro-forma accounts (in particular in relation to the LLP SORP) for both groups and single LLPs and uses practical tips, worked examples and best practice principles throughout to ensure understanding. Accountants and tax advisers will not only benefit from specialist guidance covering all aspects of an LLP but the book also includes invaluable information on the key company law and taxation issues. Accounts and Audit of Limited Liability Partnerships has been updated to include: The new LLP Regulations; The FRC's Amendments to FRS 105 - Limited Liability Partnerships and Qualifying Partnerships; The revised LLP SORP to reflect amendments to FRS 105; Practical examples and best practice tips written from a real-life perspective; New chapter dedicated to micro-entity LLPs; Pro forma accounts for both groups and single LLPs.

UK GAAP Illustrative Financial Statements: FRS 102 Example Accounts (formerly: 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.