Accounts and Audit of Limited Liability Partnerships

By: Steve Collings
ISBN: 9781784517526

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About Accounts and Audit of Limited Liability Partnerships

Accounts and Audit of Limited Liability Partnerships gives comprehensive guidance on how to apply UK GAAP to limited liability partnerships and takes readers through all the requirements for LLP accounting as a result of the implementation of FRS 102 and the revised LLP SORP. The book includes sets of pro-forma accounts (in particular in relation to the LLP SORP) for both groups and single LLPs and uses practical tips, worked... Read more

About Accounts and Audit of Limited Liability Partnerships

Accounts and Audit of Limited Liability Partnerships gives comprehensive guidance on how to apply UK GAAP to limited liability partnerships and takes readers through all the requirements for LLP accounting as a result of the implementation of FRS 102 and the revised LLP SORP.

The book includes sets of pro-forma accounts (in particular in relation to the LLP SORP) for both groups and single LLPs and uses practical tips, worked examples and best practice principles throughout to ensure understanding.

Accountants and tax advisers will not only benefit from specialist guidance covering all aspects of an LLP but the book also includes invaluable information on the key company law and taxation issues.

Accounts and Audit of Limited Liability Partnerships has been updated to include:
The new LLP Regulations;
The FRC’s Amendments to FRS 105 – Limited Liability Partnerships and Qualifying Partnerships;
The revised LLP SORP to reflect amendments to FRS 105;
Practical examples and best practice tips written from a real-life perspective;
New chapter dedicated to micro-entity LLPs;
Pro forma accounts for both groups and single LLPs.

Table of Contents

1. The law and practice of limited liability partnerships
2. General accounting requirements and the LLP SORP
3. The LLP and auditor relationship
4. The audit and UK auditing standards
5. Accounting for members’ interests and remuneration – principles
6. Accounting for members’ interests and remuneration – practical considerations
7. Revenue recognition and work in progress
8. Taxation
9. Other accounting standards
10. Going concern
11. Consolidated financial statements
12. Business combinations
13. The transition from partnership to LLP
14. Micro-entities
Appendices
1 LLP pro forma fi nancial statements – group
2 LLP pro forma fi nancial statements – single LLP

Publishing Details

Publication Date: 24 February 2017
ISBN: 9781784517526
Binding: Paperback
Edition: 5
BPro Tax

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