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Manufacturing output rises but employment levels fall
Mike Thornton

02 September 2020

August has seen UK manufacturing output expand at the fastest rate for over six years as companies and their clients restarted operations following coronavirus lockdowns. It is excellent to see these figures showing a bounce back for the manufacturing industry but this bounce back is as fragile as they come….

Coronavirus and IFRS: financial reporting

10 August 2020

Read our comprehensive guide on how coronavirus has impacted IFRS and the implications for financial reporting, outlining the areas you need to be aware of and how to stay on top of your compliance requirements.

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Untangling workforce issues

06 August 2020

In this episode, we discuss real life workforce scenarios to deliver practical advice on how to manage workforce needs for now and in the future.

Untangling finance and innovation in manufacturing

06 August 2020

Given recent developments in the economy and Brexit, in this episode we welcome Tim Figures, Make UK’s Director of Technology, Sustainability and Innovation as well as Mike Thornton, RSM’s Head of Manufacturing to talk through some of the issues faced by manufacturing businesses in the current economic climate.

Encouraging signs of recovery for the manufacturing sector
Mike Thornton

06 July 2020

The June CIPS PMI returned to an above neutral measure in June at 50.1, showing some early signs of recovery as lockdown measures ease. Over the past few months many have been mitigating supply chain risks by sourcing new suppliers closer to home – will this trend continue?

Interaction of filing extension when filing parent consolidated accounts

06 July 2020

If an entity applies for an accounts filing extension before the filing deadline due to coronavirus, then Companies House will, if they are able to, provide an automatic three-month extension.

Going concern and changes to insolvency laws

03 July 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?

Manufacturing CIPS PMI: Overseas travel corridors and reshoring earmarked as short-term opportunities to rebuild
Mike Thornton

01 July 2020

The latest monthly CIPS manufacturing PMI today reports an above neutral measure in June at 50.1. This marks a welcome return to positive sentiment. It also adds credence to short term opportunities to bolster and strengthen the prospects of the manufacturing sector, and those whose supply chains rely on it, according to leading audit, tax and consulting firm RSM.

IFRS 16 rent concessions amended for coronavirus
Paul Merris

IFRS 16 has been amended for coronavirus-related rent concessions. The IASB has published amendments meaning lessees can choose not to consider lease modification accounting.

What support is available to manufacturers during the coronavirus outbreak?
Mike Thornton

19 May 2020

RSM covers the support available for manufacturers during the coronavirus outbreak based on government updates.

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