Articles within Financial Reporting Publications
Chinese accounting reform: Towards a principles-based global regime
The Institute of Chartered Accountants of Scotland is pleased to announce the publication of “Chinese Accounting Reform: Towards a principles-based global regime”. The report provides a fascinating insight into China’s adoption of IFRS-based standards and broadens the principles versus rules debate beyond Europe and the USA.
(Created: 28 June 2010 – Last Updated: 30 June 2010)
Framework for the Preparation of Accounts (Revised April 2010)
Revised guidance has been issued for members preparing a set of accounts for a client. The guidance is applicable for accounting periods ending on or after 30 April 2010, although earlier adoption is encouraged.
(Created: 19 April 2010 – Last Updated: 27 April 2010)
Making Corporate Reports Readable
The Institute of Chartered Accountants of Scotland is pleased to announce the publication of Making Corporate Reports Readable. The document demonstrates that it is possible to produce a corporate report in less than 30 pages which tells management’s story of what is important – eliminating the boilerplate narrative and providing decision-useful information.
(Created: 19 February 2010 – Last Updated: 24 February 2010)
Report on GAA Roundtables: Making Financial Reporting Simpler and More Useful
The GAA arranged a number of roundtable events in 2009 where regulators and other stakeholders in financial reporting around the world discussed the ideas emerging from the above research. These were held in London, Beijing and New York. A report on the Roundtables was published in December 2009
(Created: 09 February 2010)
Financial Reporting: the Heart of the Issue
This research was undertaken by GAA to consider the barriers to the implementation of a more principles based accounting regime, and the increasing complexity and detail in company financial statements.
(Created: 09 February 2010)
A True and Fair View in Company Accounts – Professor David Flint, 1982
In the light of the current debate on “a true and fair view” in company financial statements, ICAS is pleased to make available on its website this 1982 Institute Monograph “A True and Fair View in Company Accounts” by Professor David Flint. a former President of the Institute.
(Created: 29 January 2007 – Last Updated: 22 July 2008)
Update on Principles Not Rules Campaign
In 2005 ICAS established a working group to help find a resolution to the Principles versus Rules debate within International Accounting standard setting. In the resultant publication: 'Principles Not Rules: A Question of Judgement', ICAS found almost unanimous agreement for principles-based accounting, but how to implement the report’s recommendations remained an issue. This article providesd an update on developments since the publication was launched.
(Created: 21 July 2008)
Principles Not Rules
The Institute of Chartered Accountants of Scotland is pleased to announce the publication of its report : 'Principles Not Rules: A Question of Judgement'. The report is the culmination of an ICAS working group project which was established to help find a resolution to the Principles versus Rules debate within international accounting standard setting.
(Created: 03 April 2006 – Last Updated: 23 July 2008)
ICAS and ICAEW Issue New Guidance on the Single Payment Scheme
Following the change to the rules of the Single Payment Scheme earlier this year, ICAS and the ICAEW have issued revised guidance on the accounting implications and have withdrawn their 2005 guidance.
(Created: 24 July 2008)
Financial Reporting Standards
This article provides access to UK Financial Reporting Standards (only those which are available online) and the International Financial Reporting Standards issued by IASB
(Created: 22 July 2008 – Last Updated: 31 March 2010)
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