Do you know how to account for deferred taxation under FRS 102? Following the announcement in the former Chancellor Kwasi Kwarteng’s ‘mini-Budget’ – and reversal of measures announced since then – corporation tax rates will be increasing to 25% from 1 April 2023 after...
HM Treasury has published consolidated guidance on applying the Task Force on Climate-related Financial Disclosure (TCFD) recommendations in central government and, where appropriate, the wider public sector. UKEB 20 Dec 2024 UKEB publishes its draft 2025/28 Regulatory Strategy for consultation The UK...
FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland becomes mandatory for accounting periods commencing on or after 1 January 2015. The importance of a thorough programme of planning for the transition across to the new UK GAAP cannot be over-emphasised. Practition...
FRS 102: Key changes for charities ahead of the new SORP Draft legislation was provided at the Budget: Domicile will indeed be abolished and will be replaced with a residence-based system with effect from 5 April 2025. Non-doms: A brave new world Being independent lets us prioritise what’s...
A combination that is in substance a gift should be accounted for in accordance with FRS 102 which states that any excess of fair value of the assets received over the fair value of the liabilities assumed is recognised as income within the statement of comprehensive income. ...