Abstract
UK publicly traded companies are facing their biggest-ever change in financial reporting. From 2005 they will be required to publish consolidated financial statements prepared in accordance with international, rather than UK, standards. The most significant effects of the change to international standards will be the recognition of all derivatives on the balance sheet at fair value; restrictions on the use of hedge accounting; the full recognition of pension deficits; and revised accounting for mergers and acquisitions. This paper examines the background to the change and related developments in enforcement of financial information and auditing. It summarises the practical implications for UK companies of the transition process.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: International Journal of Disclosure and Governance
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.