Based on 4 years' worth of understanding, this new edition of Financial Reporting for Unlisted Companies in the UK and the Republic of Ireland details how the standard should be applied in different circumstances. This is conveyed using many real-life examples from practice. The content has also been restructured so it is more in line with the structure of FRS 102. This edition of the title also incorporates the micro-entities regime, which had not been transposed into company law at the time the 1st edition was written. The book has also been revised with the changes brought in through the FRC's Triennial Review which was published in December 2017. The principal amendments to the standard are as follows: - The simplification of the measurement of directors' loans to small entities - A requirement for fewer intangible assets to be separated from goodwill in a business combination - Permit investment property rented to another group entity is to be measured by reference to cost, rather than fair value - There is expansion of the circumstances in which a financial instrument may be measured at amortised cost, rather than fair value - The definition of a financial institution has been simplified. New case law covered includes: - Companies Act 2006 and related SIs - FRS 102 The Financial Reporting Standard Applicable in the UK and the Republic of Ireland (March 2018) - FRS 105 The Financial Reporting Standard Applicable to the Micro-entities Regime (March 2018)
Author Biography
Steve Collings is the audit and technical partner at Leavitt Walmsley Associates Ltd. He is also a member of the UK GAAP Technical Advisory Group at the Financial Reporting Council. He has authored several titles for Bloomsbury, he lectures widely and is an acknowledged expert in both UK GAAP and IFRS.
