Small Company Financial Reporting

By: Steve Collings
ISBN: 9781526508898

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About Small Company Financial Reporting

Small Company Financial Reporting, Second Edition provides comprehensive and practical guidance on the small companies’ financial reporting framework and the micro-entities legislation. Its aim is to help those using the current standards by explaining the recognition, measurement and presentation requirements of UK GAAP and company law as well as bringing this theory to life through the use of real-life examples and model accounts. Written by a specialist on small company... Read more

About Small Company Financial Reporting

Small Company Financial Reporting, Second Edition provides comprehensive and practical guidance on the small companies’ financial reporting framework and the micro-entities legislation. Its aim is to help those using the current standards by explaining the recognition, measurement and presentation requirements of UK GAAP and company law as well as bringing this theory to life through the use of real-life examples and model accounts.

Written by a specialist on small company reporting issues, it outlines the theory of the current UK GAAP regime, and explains why transactions and events affecting the financial statements are disclosed in a certain way, to enable preparers of small company financial statements to tailor certain disclosures to their client or company.

Updated to incorporate changes arising from the FRC’s Triennial Review in December 2017, this Second Edition includes:
FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland as amended for small companies (March 2018)
FRS 105 The Financial Reporting Standard applicable to the micro-entities regime (March 2018)
Companies Act 2006 and related statutory instruments
Companies (Accounting) Act 2017 (for small and micro-entities in the Republic of Ireland)

Small Company Financial Reporting is an invaluable resource for accountants and auditors with clients that fall under the small company regime, as well as finance directors and owners of small companies affected by these changes.

Steve Collings FMAAT, FCCA is the audit and technical partner at Leavitt Walmsley Associates Ltd and a member of the UK GAAP Technical Advisory Group at the Financial Reporting Council. He regularly lectures on small company reporting issues and the book benefits from his wide range of experience in dealing with clients in this area. He is also the author of Accounts and Audit of Limited Liability Partnerships, Fifth Edition and Financial Reporting for Unlisted Companies in the UK and the Republic of Ireland, Second Edition (both published by Bloomsbury Professional).

Table of Contents

Chapter 1 – Introduction
Chapter 2 – The Small Companies Regime
Chapter 3 – The Financial Statements
Chapter 4 – The Elements of Financial Statements
Chapter 5 – Reporting the Substance of Transactions
Chapter 6 – Contentious Areas of the Financial Statements
Chapter 7 – Small Company Legal Requirements
Chapter 8 – Consolidated Financial Statements
Chapter 9 – Related Parties
Chapter 10 – Transactions with Directors
Chapter 11 – Financial Reporting for Micro-entities
Chapter 12 – Accounting Policies, Estimates and Errors
Chapter 13 – Basic Financial Instruments
Chapter 14 – Other Financial Instruments Issues
Chapter 15 – Inventory
Chapter 16 – Investments in Associates
Chapter 17 – Investments in Joint Ventures
Chapter 18 – Investment Property
Chapter 19 – Property, Plant and Equipment
Chapter 20 – Intangible Assets
Chapter 21 – Business Combinations and Goodwill
Chapter 22 – Leases
Chapter 23 – Provisions and Contingencies
Chapter 24 – Liabilities and Equity
Chapter 25 – Revenue
Chapter 26 – Government Grants
Chapter 27 – Borrowing Costs
Chapter 28 – Share-based Payments
Chapter 29 – Impairment of Assets
Chapter 30 – Employee Benefits
Chapter 31 – Taxation
Chapter 32 – Foreign Currency
Chapter 33 – Events after the End of the Reporting Period
Chapter 34 – Specialised Activities
Chapter 35 – The Transition to FRS 102

Publishing Details

Publication Date: 14 February 2019
ISBN: 9781526508898
Binding: Paperback
Edition: 2
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