New accounting rules for small companies has led to Companies House rejecting accounts filed with them, due to uncertainty over filing options ICAEW has warned. The accountancy and finance body has published updated guidance to help small companies and others understand the filing options under the new regime. Recent changes...
IFAC has released the Guide to Compilation Engagements. The Guide aims to help professional accountants in practice, especially those operating in SMPs, in conducting compilation engagements in compliance with ISRSTM 4410 (Revised), an International Standard on Related Services developed exclusively by the IAASB. Giancarlo Attolini, IFAC SMP Committee Chair said: The regulatory...
IASB and FASB of the US have published for public comment a revised Exposure Draft outlining proposed change to the accounting for leases. The proposal aims to improve the quality and comparability of financial reporting by providing greater transparency about leverage, the assets an organisation uses in its operations...
There are many scenarios that students, and professional accountants, will come across that examine the concept of investment property and it is important that accountants at all levels understand the fundamental concepts as to why investment properties are subjected to a completely separate standard other than that of IAS...
Accounting for construction con- tracts is dealt with in IAS 11 Construction Contracts. This article will look at the core principles involved in IAS 11 and at the end of the article will look at a worked example. The first thing to understand is what a construction contract actually...
This article will look at the principles contained in IAS 38 ‘Intangible Assets’ and take a look at the different sorts of intangible assets that can be recognised on the statement of financial position as well as those which are prohibited. Many organisations will have intangible assets on their statement...