UK GAAP 2019 Generally Accepted Accounting Practice under UK and Irish GAAP

UK GAAP 2019 provides a comprehensive guide to interpreting and implementing UK accounting standards, particularly:

• 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

This book is an essential tool for anyone applying, auditing, interpreting, regulating, studying or teaching those accounting standards.

Written by the financial reporting professionals from the Financial Reporting Group of EY, this book provides a clear explanation of the UK GAAP accounting requirements which apply in 2019 and will prove invaluable in implementing these requirements. It also addresses the requirements of the UK Companies Act and relevant statutory instruments, as well as practical worked examples.

Also available is International GAAP^® 2019 — a three volume comprehensive guide to interpreting International Financial Reporting Standards (IFRS), setting IFRS in a relevant business context and providing insight into how complex practical issues should be resolved in the real world of global financial reporting.

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List of chapters

1 FRS 100 – Application of financial reporting requirements 1

2 FRS 101 – Reduced disclosure framework 57

3 Scope of FRS 102 111

4 Concepts and pervasive principles 147

5 FRS 102 – Small entities 167

6 Presentation of financial statements 285

7 Statement of cash flows 487

8 Consolidated and separate financial statements 509

9 Accounting policies, estimates and errors 587

10 Financial instruments 603

11 Inventories 723

12 Investments in associates 743

13 Investments in joint ventures 781

14 Investment property 811

15 Property, plant and equipment 839

16 Intangible assets other than goodwill 885

17 Business combinations and good will 919

18 Leases 1015

19 Provisions and contingencies 1075

20 Revenue 1121

21 Government grants 1167

22 Borrowing costs 1181

23 Share-based payment 1207

24 Impairment of assets 1365

25 Employee benefits 1411

26 Income tax ...... 1455

27 Foreign currency translation 1521

28 Hyperinflation 1557

29 Events after the end of the reporting period 1565

30 Related party disclosures 1577

31 Specialised activities 1599

32 Transition to FRS 102 1637

33 FRS 103 – Insurance contracts 1727

34 FRS 104 – Interim financial reporting 1843

Index of standards index 1