Where do you Post Non-Investment Property Gains & Losses under FRS 102?

Most gains/losses should normally pass through profit or loss (Income Statement), unless they are required or permitted to pass directly through reserves. Those items likely to be shown in Other Comprehensive Income or the separate Statement of Comprehensive Income include: unrealised surplus/deficit on revaluations, other than investment property; currency translation differences, other than trading transactions,… Read More


The latest on the Solicitors Accounts Regulations 2014

Challenge your knowledge on the Solicitors Accounts) Regulations 2014 with this short quiz: ‘I received a cheque from a client on the balancing date, the client ledger card was updated to show receipt of the money, but the cheque was not lodged to the bank until two weeks later. The reporting accountant’s report may show… Read More


The latest on Investment Property Accounting under FRS 102

The latest on Investment Property Accounting under FRS 102 Challenge your knowledge on Investment Property Accounting under FRS 102. Some of the rules around the accounting for investment properties under FRS 102 have changed for accounting periods commencing 1 January 2019. Test your knowledge of these changes with this quick quiz. The changes to the… Read More


UK Companies slow to disclose ultimate ownership details

In spite of efforts to make UK registered companies disclose their ownership through the people with significant control (PSC) register, thousands of companies don’t comply with the rules brought in to counter fraud and money laundering. According to a 2018 Freedom of Information request to Companies House by Fortytwo Data (now Napier), over 57,000 UK… Read More


FRC Staff Factsheets on FRS 102

Suite of seven staff factsheets issued in December 2018 The Financial Reporting Council (FRC) has issued a suite of seven staff factsheets in December 2018 on aspects of FRS 102, including the 2017 triennial review. These become effective from 1 January 2019, with early adoption allowed under certain conditions. They are available here: Fact Sheet… Read More






Accountants are a treasure trove of information – for hackers!

When you consider the volume of data that an accountancy firm or an individual practitioner possesses, you can understand why they have become an attractive target for hackers. Accountants are regarded as custodians of people’s most sensitive information. It’s everything about them and their family. And there’s an expectation that every appropriate measure is being… Read More