The FRC has issued Amendments to FRS 102 – Pension obligations to clarify aspects of the accounting for defined benefit pension plans by UK and Irish entities.
The FRC has issued its proposals to amend UK and Irish accounting standards following publication of the government’s decision on the UK implementation of the EU Accounting Directive.
An exposure draft of proposed amendments to IAS 1, Presentation of Financial Statements to clarify the criteria for the classification of a liability as either current or non-current has been published by the IASB.
The full text of Companies Act 2014 and Bloomsbury Professional's Guide to The Companies Act 2014 are now live for subscribers to the Company Law service.
Each year seems to bring new HM Revenue and Customs (HMRC) powers, and 2015 looks like being no different. It was announced in the Chancellor’s Autumn Statement 2014 that the government would be consulting on a proposal to introduce a new power, enabling HMRC to achieve early resolution and closure of one or more aspects of a tax enquiry whilst leaving other aspects open. HMRC published the consultation document Tax Enquiries: Closure Rules on 18 December 2014. Mark McLaughlin looks into the details.
The government has explained how the reduced disclosure requirements in the EU Accounting Directive will be implemented in its published response to last year’s consultation.