UK Accounting Standards
A Quick Reference Guide
- Robert Kirk, Associate Professor, University of Ulster
The pace of development in financial reporting has accelerated sharply during the last few years and shows no sign of abating as the UK prepares to comply with International Accounting Standards. This text gives accounting professionals an understanding of UK accounting standards and demonstrate how they are used in practice. It is the perfect companion for those who need to keep abreast of changes to accounting standards or who need to see how the standards are applied in practice.Accounting Standards includes:* Summaries outlining the principles behind UK accounting standards* Examples and extracts from well-known recent company accountsView full description
Accountants and finance managers; Part-qualified accountants who need to keep up to date with UK standards.
- Published: December 2004
- Imprint: CIMA PUBLISHING
- ISBN: 978-0-7506-6474-5
Table of ContentsPreface: Introduction to standard setting process; The Financial Reporting Council (FRC);The Accounting Standards Board (ASB); The Financial Reporting Review Panel (FRRP); The Urgent Issues Task Force (UITF); Other Sub Committees; Authority of standards; UK standards and international standards; List of extant accounting standards and equivalent international standards; The Regulatory Framework and the Standard-setting Process: Statement of Principles (December 1999); FRS 18 Accounting Policies (December 2000); FRS 5 Reporting the Substance of Transactions (April 1994, amended December 1994 and September 1998); Asset Valuation: Accounting for Tangible Fixed Assets: FRS 15 Tangible Fixed Assets (February 1999); SSAP 19 Accounting for Investment Properties (January 1975, revised July 1994); SSAP 4 Accounting for Government Grants (April 1974, revised July 1990, amended October 1992); FRS 11 Impairment of Fixed Assets and Goodwill (July 1998); Asset Valuation: Accounting for Intangible Assets: SSAP 13 Research and Development (December 1977, revised January 1989); SSAP 21 Accounting for Leases and Hire Purchase Contracts (August 1984, amended February 1997); FRS 10 Goodwill and Intangible Assets (December 1997); Asset Valuation: Accounting for Stocks and Work in Progress: SSAP 9 Stocks and Work in Progress (May 1975, revised September 1988); Profit and Loss: Accounting for Taxation: SSAP 5 Accounting for Value Added Tax (April 1974); FRS 16 Current Tax (December 1999); FRS 19 Deferred Taxation (December 2000); Profit and Loss: Earnings per Share and Reporting Financial Performance: FRS 14 Earning per Share (October 1998); FRS 3 Reporting Financial Performance (October 1992, amended June 1993); Cash Flow Statements: FRS 1 Cash Flow Statements (1991, revised 1996 and 1997); Accounting Disclosure Standards: Post Balance Sheet Events,Provisions and Contingencies, Pensions and Segmental Reporting: SSAP 17 Accounting for Post Balance Sheet Events (August 1980); FRS 12 Provisions, Contingent Liabilities and Contingent Assets (September 1998); SSAP 24 Accounting for Pension Costs (May 1988); FRS 17 Retirement Benefits (November 2000); SSAP 25 Segmental Reporting (June 1990); Group Accounting: FRS 2 Accounting for Subsidiary Undertakings (July 1992); FRS 6 Acquisitions and Mergers (September 1994); FRS 7 Fair Values in Acquisition Accounting (September 1994); FRS 9 Associates and Joint Ventures (November 1997); Foreign Currency Translation: SSAP 20 Foreign Currency Translation (April 1983); Sundry Accounting Standards: FRS 4 Capital Instruments (December 1993); FRS 13 Derivatives and Other Financial Instruments: Disclosure (September 1998); FRS 8 Related Party Disclosures (October 1995); FRS 20 Share based payment (April 2004); Urgent Issues Task Force Abstracts.