PwC Manual of Accounting: IFRS for the UK 2013 Pack

PwC’s Manual of accounting IFRS for the UK provides comprehensive practical guidance on the IFRSs issued by the IASB and the accounting requirements of UK law applicable to UK users of IFRS, as well as the other elements that make up IFRS for the UK. This pack will help UK companies who report under IFRS understand exactly what is required of them.

This pack comprises the following 4 volumes.

Key updates are listed below.

Manual of accounting: IFRS for the UK 2013 Vol. 1 and Vol. 2

• Rewritten chapter on IFRS 13, ’Fair Value Measurement’, with more detailed coverage of business combinations, impairment and intangibles.
• Rewritten chapters on control (IFRS 10 and 12) and joint arrangements (IFRS 11) to include more detailed examples and PwC interpretations.
• Guidance on IASB’s annual improvements 2011, various IASB amendments to standards and IFRS IC agenda decisions.
• New extracts and examples.
• Guidance on financial instruments (previously found in Manual of accounting – Financial instruments) – now incorporated into Manual of accounting – IFRS for the UK 2013 Volume 1.
• Guidance on interim reporting removed – now available in a separate publication Manual of accounting – Interim and preliminary reporting for the UK, accompanied by illustrative interim accounts and disclosure checklist.

Manual of accounting: Narrative reporting 2013

• Updates to the chapter on the directors’ report, including reference to the FRC report ‘An update for directors of listed companies: Responding to increased country and currency risk in financial reports’
• Updates to the chapter on corporate governance to cover:
• • A significant reform of the framework for directors’ remuneration from October 2013
  • Proposed changes to the UK Corporate Governance Code, the FRC Guidance on Audit Committees and a number of Auditing Standards for reporting periods beginning on or after 1 October 2012
  • Final report of the Sharman inquiry
  • European Commission activities including the Green Papers and the audit reform proposals.
• New extracts and examples

UK illustrative financial statements for 2012 year ends

This publication provides three example sets of accounts for the year ended 31 December 2012. The latest update includes the following:

• IFRS GAAP Plc – new standards, amendments and interpretations that take effect from periods starting on or after 1 January 2012.
• GAAP UK Group Limited – new PwC commentary on disclosures of audit fees.
• UK GAAP Limited – factors affecting current and future tax charges.