Financial reporting is continually changing. But for UK GAAP reporters it’s changing in a big way, with a new accounting framework to consider. The obligatory adoption date for new UK GAAP is still a way off but that doesn’t mean you should put off your preparations. There will be a myriad of factors to consider; after all, adopting a new GAAP means changing more than just the numbers. Make sure that you are fully prepared for the new standards!
The decisions you make now could affect your company’s future financial position, so it’s worth taking the time to get it right.
Make sure that you are fully prepared with PwC’s expert guide – Manual of accounting – New UK GAAP.
Your expert guide to implementing the new UK GAAP requirements
PwC’s Manual of accounting – New UK GAAP provides comprehensive guidance on the new accounting regime that applies in the UK following the issue of FRS 100, ‘Application of financial reporting requirements’, FRS 101, ‘Reduced disclosure framework - Disclosure exemptions from EU-adopted IFRS for qualifying entities’ and FRS 102, ‘The financial reporting standard applicable in the UK and Republic of Ireland’. It also covers the accounting requirements of UK company law, as well as other elements that make up the new UK GAAP. The new standards apply from 2015, but early adoption is already permitted.
The Manual offers a clear explanation of the new UK reporting requirements and it will help you to implement the new requirements and deal with day-to-day issues as well as difficult issues under the new regulations. In addition to providing reliable up-to date guidance on the new UK GAAP, the Companies Act and relevant statutory instruments, it includes practical worked examples to help illustrate the explanations.
Written by PwC’s Accounting Consulting Services team of specialists, the Manual will be of particular interest to finance directors, chief accountants and others concerned with preparing and using UK GAAP and reduced disclosure company financial statements.
