In Practice Hello ACCA Member February 2015 MY DEVELOPMENT EVENTS MY ACCA LinkedIn TECHNICAL AND INSIGHT New UK GAAP – an overview This issue of In Practice focuses on the introduction of UK GAAP, with a number of articles dedicated to it. We begin with a broad overview. FRC issues new FREDs streamlining UK GAAP The new standards apply if your turnover is under £10.2m. GAAP: Measurement of basic financial instruments: old GAAP v FRS 102 A comparison of the measurement treatment of basic financial instruments between old UK GAAP and FRS 102, including the potential tax impact of the new standard. GAAP: Recognition of intangibles and goodwill: old GAAP v FRS 102 A comparison of the recognition treatment of intangibles and goodwill between old UK GAAP and FRS 102, including the potential tax impact of the new standard. GAAP: Small company limit increases in 2015 or 2016? Should a company transition to FRS 102 this year, or wait until 2016? GAAP: Accounting for investment properties Analysis of how to treat investment properties under FRS 102. GAAP: Consolidated financial statements and business combinations, current GAAP v FRS 102 How to address business combinations under FSR 102. GAAP: Deferred tax How will deferred tax change under FRS 102? GAAP: Foreign currency translation Understanding the treatment of foreign currency under FSR 102. GAAP v FRS 102: cash flow statement A look at the cash flow statement when transitioning to FRS 102. GAAP: Employee benefits How to account for employee benefits under the new standard. GAAP: Software and website development costs What impact will new UK GAAP have on certain technologies? GAAP: Leases Looking at leases under FRS 102. Understanding the Finance Bill 2015 A summary of the key provisions included in the Finance Bill 2015 and measures that have an immediate effect.  Tax penalty regime, mitigation, suspension and current developments HMRC is examining its tax penalty regime. Learn how and have your say. New guidance for trustees of charities The Charity Commission has issued guidance for trustees considering tax arrangements. Hack to the future Eleven cyber risk developments to watch in 2015. Late payment costs jobs and can jeopardise access to trade credit A nuanced approach is key to tackling the practice of late payment among the UK’s smallest businesses, a new global study from ACCA shows. The latest developments in UK VAT Updates on VAT MOSS and businesses which are alcohol wholesalers. GAAP: Model accounts Model accounts based on both the FRSSE 2015 and FRS 102 available to ACCA members. HMRC sets out payroll penalties approach Employers that have received an in-year late filing penalty for the period 6 October 2014 to 5 January 2015 and were three days late or less should appeal online. Property in Wales – consultation paper Consultation on proposed land transaction tax opens.

Member News How I survived self assessment The Secret Accountant returns with their take on how they once again survived January. Digital engagement with HMRC HMRC is holding webinars and workshops to ask accountants how it should engage with them digitally. Insolvency Service podcasts Insolvency Service launches podcast. CPD The latest Professional Courses from ACCA Book your place now, for events including the Budget Breakfast and Saturday CPD Conferences. Online learning opportunities Choose from a variety of online learning courses. Alternative & Receivables Finance Second annual summit will focus on exploiting new developments in SME finance. Practice News Legal advice service Details of a competitively priced legal advice service that covers both business and personal issues. Government consultation on R&D tax credits Hurry – one week left to input into tax credits survey. The right KPIs for your practice Why risk the health of your accountancy practice by measuring the wrong things?

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