Future of UK GAAP
Wednesday, July 20, 2011 | Posted by: Grant Thornton
Categories:
Future of UK GAAP,
UK GAAP
| Tags: IFRS,
Accounting Standards Board,
financial reporting,
Companies Act,
FRSSE,
SMEs,
ASB,
FRSs
by Dr Matthew Stroh, Associate Director, Assurance
The ASB (the UK’s Accounting Standards Board) has taken an unexpected decision at its latest Board meeting, which marks a significant shift in its proposals for the future direction of UK GAAP, and means that the UK version of the IFRS for small and medium sized entities might well have a much wider application than originally expected. Until now, their proposals had been based on a three tier structure for UK financial reporting (
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Friday, June 24, 2011 | Posted by: Grant Thornton
Categories:
Future of UK GAAP
| Tags: IFRS,
IFRS for SMEs,
UK GAAP,
SMEs,
ASB
It seems that the ASB has had a dramatic change of heart on the issue of public accountability and the adoption of ‘full’ IFRS.
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Friday, September 10, 2010 | Posted by: Grant Thornton
Categories:
Future of UK GAAP
| Tags: IFRS,
IFRS for SMEs,
UK GAAP,
financial reporting,
SMEs,
ASB,
Future of UK GAAP project
This issue should provide the proof, for anyone who suspected otherwise, that the ASB does read and consider the comment letters it receives.
By Katherine Martin, our secondee to the ASB as a Project Director on the Future of UK GAAP project
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Tuesday, April 27, 2010 | Posted by: Grant Thornton
Categories:
Future of UK GAAP,
UK GAAP
| Tags: IFRS,
IFRS for SMEs,
UK GAAP,
financial reporting,
SMEs,
ASB,
Future of UK GAAP project,
subsidiary accounts
By Katherine Martin, our secondee to the ASB as a Project Director on the
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Monday, March 01, 2010 | Posted by: Jenny Brown
Categories:
Future of UK GAAP,
UK GAAP
| Tags: IFRS,
IFRS for SMEs,
SMEs,
ASB,
Not for proft,
Jenny Brown
After weeks of frantic drafting and redrafting of responses to the ASB’s consultation it now feels like the calm before the storm - waiting for the real decisions to start being made….
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Thursday, January 14, 2010 | Posted by: Jenny Brown
Categories:
Future of UK GAAP
| Tags: education,
IFRS,
charity,
IFRS for SMEs,
SMEs,
ASB,
not-for-profit,
social housing,
SORP
IFRS for SMEs and the not-for-profit sector: the temptation is to dive in and start identifying individual standards or sections, differences and their impact for the sector. However the ASB’s consultation document forces us to start with the real basics. What should the guidance even look like? Who should be responsible for it? How much should there be?
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Friday, July 17, 2009 | Posted by: Chris Smith
Categories:
Future of UK GAAP,
UK GAAP
| Tags: Chris Smith,
IFRS,
UK GAAP,
FRSSE,
UK economy,
ASB,
IASB
It’s here! On 9 July the IASB finally published its IFRS for SMEs distilling more than 2,000 pages of full IFRS into a mere 250, a notable achievement indeed.
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Friday, July 17, 2009 | Posted by: Christine Corner
Categories:
Future of UK GAAP,
UK GAAP
| Tags: IFRS,
FDs,
UK GAAP,
FRSSE,
UK economy,
SMEs,
ASB,
IASB,
Christine Corner,
Listed companies
The transition to IFRS for listed companies was a difficult, time-consuming and expensive period for many companies and their FDs. So the concern will be is this also going to be the case for private companies? Should entrepreneurs and their FDs be worried?
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