Manual of Accounting – UK GAAP 4th edition eBook
PwC’s Manual of Accounting – UK GAAP, 4th edition provides comprehensive guidance on the accounting regime that applies in the UK including:
- FRS 100, ‘Application of financial reporting requirements’;
- FRS 101, ‘Reduced disclosure framework - Disclosure exemptions from EU-adopted IFRS for qualifying entities’;
- FRS 102, ‘The financial reporting standard applicable in the UK and Republic of Ireland’;
- FRS 103, ‘Insurance contracts’;
- FRS 104, ‘Interim financial reporting’;
- and the accounting requirements of the Companies Act 2006 that together make up UK GAAP.
This 4th edition has been updated for changes from the triennial review of the UK accounting standards issued in December 2017. The main changes expand the definition of a basic financial instrument to include more types of instrument through the inclusion of a principle-based description, permit investment property rented to a group entity to be measured based on cost (rather than fair value) and require fewer intangible assets to be separated from goodwill in a business combination. The changes also simplify the measurement of directors’ loans to small entities. It has also been updated for practical experience in implementing the standards.
Written by PwC’s UK 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.