31 January 2019
The IASB has made amendments to the definition of material. The updated definition amends IAS 1 and IAS 8 . It is effective from 1 January 2020.
29 November 2018
IASB has amended the business definition in IFRS 3. Contact RSM to learn more about the changes.
06 November 2018
New leasing standards come into effect next year which aim to increase transparency within financial reporting, but a quarter of manufacturers are not prepared for the change which will impact key performance ratios, a new survey has found.
14 September 2018
The International Accounting Standards Board (Board) has published a Discussion Paper on how companies issuing financial instruments should classify them in their financial statements.
14 February 2018
In the amendment to FRS 102 - Triennial review 2017 the FRC is aiming to reduce the cost of accounting for business combinations. It states that fewer intangibles will need to be recognised separately from goodwill going forwards. However, entities will need to take care.
27 November 2017
The International Accounting Standards Board (IASB) has issued narrow scope amendments to IFRS 9 Financial Instruments and to IAS 28 Investments in Associates and Joint Ventures.
15 November 2017
On 12 July 2017, the FRC issued ‘Amendments to FRS 101 – 2016/17 cycle’ following its annual review of the FRS 101 Reduced Disclosure Framework.
29 June 2017
Frequently asked questions we have had around the transition to the new UK GAAP.
13 June 2017
The financial reporting framework that applies to UK entities preparing financial statements is set out in FRS 100 Application of Financial Reporting Requirements. FRS 100 sets out five options for preparing financial statements.
13 June 2017
FRS 101 ‘Reduced Disclosure Framework’ sets out the financial reporting requirements and disclosure exemptions available for use by subsidiaries and ultimate parent companies in their individual financial statements.