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Changes ahead for accounting for leases

If your company prepares its accounts under the International Financial Reporting Standards (IFRS) then you will need to account for the company’s operating leases differently in 2019. What’s changing? More...


Filleted accounts - what needs to be included?


Asset impairment tests

Your company’s accountants referred to asset impairment in their latest briefing seminar. Your company uses a number of expensive machines in its manufacturing plants - how should you go about applying impairment tests? More...


Small company limits to rise

Many medium-sized companies will be able to submit simpler accounts to Companies House under new proposals. Does this mean they won’t need an audit? More...


Deferred tax - what is it?

The accountant has sent you a draft copy of the company’s statutory accounts. On the balance sheet is a liability for “deferred tax” that you didn’t have in your management accounts. Does this mean your company has more tax to pay? More...


Balance sheets for board meetings

Your directors do spend some time on the numbers - but only on the profit and loss account. Why should you encourage them to take a look at the balance sheet too? More...


Medium-sized groups

One change that the 2006 Companies Act brought in is the requirement to consolidate the financial statements of medium-sized groups. What does this change mean for your company’s accounts? More...


Software development costs

Your company has purchased a new IT system and you’ve just received two invoices - one for the actual cost of the software and one for the development costs. Should these be capitalised or can they be written off to the P&L? More...


How to file assets

After a slightly disappointing year, to keep its high credit rating, the company is looking to beef up its balance sheet. The company has some fixed assets which are valued at less than their current value - is there scope to revalue these? More...
Last updated: 03.06.2020

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