A Practical Guide to UK Accounting and Auditing Standards

Intro -- Preface -- Table of Statutes, Statutory Instruments and Other Guidance -- Table of Examples -- Introduction -- Accounting requirements under the Companies Act 2006 -- Determining the size of company or group -- True and fair requirements -- Small entities -- Micro-entities -- FRC True and Fair document -- Structure of UK GAAP -- FRS 100 Application of Financial Reporting Requirements -- First-time adoption of FRS 100 -- FRS 101 Reduced Disclosure Framework -- Protocol to be followed for FRS 101 -- FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland -- Triennial review of FRS 102 -- FRS 103 Insurance Contracts -- FRS 104 Interim Financial Reporting -- Contents of an interim financial report -- Significant events and transactions -- Other disclosures -- Transitions from another framework -- Periods for which interim reports are presented -- Materiality -- Recognition and measurement issues -- FRS 105 The Financial Reporting Standard applicable to the Micro‑entities Regime -- Disclosure requirements for small companies -- Disclosures required by law -- Changes in presentation, accounting policies or correction of errors -- Encouraged disclosures -- Abridged financial statements -- Member consent -- Statement to the Registrar of Companies -- Form of abridged financial statements -- Filing requirements at Companies House -- Micro-entities -- Small companies -- Medium-sized companies -- Unquoted companies -- Quoted companies -- Penalties for late filing -- Introduction -- Scope of Section 2 -- Objective of financial statements -- Qualitative characteristics -- Understandability -- Relevance -- Materiality -- Reliability -- Substance over form -- Prudence -- Completeness -- Comparability -- Timeliness -- Balance between benefit and cost -- IASB's qualitative characteristics.