Displaying 10 of 55 results
The end of LIBOR: this important rate is being replaced, here’s how to prepare
Andy Ka

10 December 2020

LIBOR is ending on 31 December 2021. Businesses need to prepare and understand the new universal rates. Here’s how to get ready for the end of LIBOR.

Bridging the GAAP – Your essential guide to financial reporting developments
Lee Marshall

25 November 2020

Bridging the GAAP is your essential guide to IFRS, UK GAAP and narrative reporting developments. Discover what the key recent financial reporting developments have been and learn how they might affect you.

Coronavirus and FRS 102: financial reporting

20 November 2020

It’s quite clear that coronavirus is a devastating, exceptional and extraordinary worldwide event which will have a significant financial impact on many entities. The financial reporting implications of coronavirus, together with the Government support, could prove challenging.

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Provisions, onerous contracts and insurance recoveries

20 November 2020

The impact of coronavirus may mean that entities need to account for new provisions for restructuring costs, amend current provision estimates, consider if contracts have become onerous and deal with recognising and measuring insurance policies.

CBIL, Bounce Back Loan and Future Fund Schemes

20 November 2020

The Coronavirus Business Interruption Loan Scheme (CBIL Scheme) provides financial support to UK based SME businesses with turnover up to £45m that were trading successfully before coronavirus that are now losing revenue, and seeing their cashflow disrupted, as a result of the coronavirus pandemic.

Leasing arrangements

19 November 2020

Coronavirus could impact both lessors and lessees on a practical level, as businesses or individuals may not have the liquid cash to pay their rent when it falls due.

Accounting for government grants including the Job Retention Scheme

19 November 2020

The government and local authorities announced several grants in March (updated April 2020) including the Job Retention Scheme (JRS), the small business grant fund (SBGF) and the retail, hospitality and leisure grant fund (RHLG).

Small and micro entities

19 November 2020

The coronavirus pandemic will have far reaching implications which will require businesses of all sizes including those applying the small company regime and those adopting the micro entity provisions to consider the impact on the preparation of their annual accounts.

Going concern and changes to insolvency laws

19 November 2020

The coronavirus pandemic will have far reaching micro and macro implications which will require businesses of all sizes to reassess their budgets and forecasts to consider the impact on their going concern basis and accounts disclosure. RSM, ICAEW and the FRC have already issued a variety of resources to assist preparers and auditors assess the going concern status used in the annual accounts so this article provides links to those and focuses on one new announcement, ie how could the proposed relaxation of the wrongful trading laws affect management’s going concern assessment?

Dividends and other distributions

19 November 2020

During the coronavirus pandemic, due to the uncertainty of future trading and potential deterioration of financial position from the last annual accounts, entities looking to pay dividends or make other distributions will need to be especially aware of their legal obligations and fiduciary duties, including considering additional factors than they may previously have needed to.