UK Financial Statements: Presentation and Disclosure Requirements

UK Financial Statements: Presentation and Disclosure Requirements cover

UK Financial Statements: Presentation and Disclosure Requirements


Please note that this product is not available for purchase from Bloomsbury Professional websites.


Accounting standards in the UK and Republic of Ireland are going through a radical change. This book outlines the changes concerned, how they affect companies, what differences exist between the new and the old rules and what practitioners and directors should be aware of in producing financial statements for statutory purposes.

To aid this theory, numerous worked examples and illustrative model accounts are included to help preparers understand how these changes should be implemented.

Practitioners and preparers of accounts need to be fully versed in the changes to accounting practice and the stumbling blocks to avoid under the new rules. Each chapter contains a 'Pitfalls to avoid' section as well as a 'Chapter summary' to help preparers to understand the key differences. Invariably, if the accounts themselves are incorrect due to a misunderstanding of the new treatments, the resulting tax will be incorrect.

UK Financial Statements: Presentation and Disclosure Requirements provides a comprehensive overview of the new reporting regimes in the UK and Republic of Ireland.

Written by an expert in UK company financial reporting issues, it includes illustrative financial statements, model disclosures and the structure of the primary statements under new UK GAAP and
EU-adopted IFRS.

The appendices also contain useful disclosure checklists.

The book is ideal for:
Practitioners dealing with all types of companies
Tax advisers
Company directors
Students studying for professional examinations

Coverage includes:
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.

Table of Contents

Chapter 1: Introduction
Chapter 2: The Revised Companies Act 2016
Chapter 4: Overview of Small and Micro-entity Reporting
Chapter 5: Abridged and Adapted Financial Statements
Chapter 6: Consolidated Financial Statements
Chapter 7: Auditing Financial Statement Disclosures
Appendix 1: Sample Micro-Entity Financial Statements
Appendix 2: Sample Small Company Financial Statements
Appendix 3: Sample Medium-sized Company Financial Statements
Appendix 4: Sample Large (Unlisted) Company Financial Statements
Appendix 5: Sample EU-adopted IFRS Financial Statements
Appendix 6: Sample Consolidated Financial Statements under FRS 102
Appendix 7: Sample Consolidated Financial Statements Prepared to EU-adopted IFRS
Appendix 8: Disclosure Checklist: Micro-entity
Appendix 9: Disclosure Checklist: Small Entity
Appendix 10: Medium-sized Entity Disclosure Checklist
Appendix 11: Large Entity Disclosure Checklist
Appendix 12: EU-adopted IFRS Disclosure Checklist

Product details

Published 26 Nov 2016
Format Ebook (Epub & Mobi)
Edition 1st
Extent 336
ISBN 9781784515379
Imprint Bloomsbury Professional
Publisher Bloomsbury Publishing

About the contributors


Steve Collings

Steve Collings is Audit & Technical Partner at…