This manual provides comprehensive guidance for UK unlisted entities preparing financial reports following UK Generally Accepted Accounting Practice (UK GAAP).

Written for companies that choose to report using UK GAAP including valuation of financial instruments, this book aims to help companies navigate their way through the extraordinary complexity of changing law and the inexorable convergence of many UK accounting standards with their international counterparts.

In a concise, ‘to the point’ style that delivers informed answers quickly to the reader, Deloitte clearly state the best accounting treatment in a particular circumstance, and show the reader how this should be applied.

This 2010 edition offers in-depth coverage of the reporting and accounting requirements of both the ASB standards and the Companies Act 2006.

In addition, this authoritative manual offers practical worked examples that draw on the day-to-day experience of Deloitte’s audit team and make highly complex accounting regulations easy to follow and apply.

For a complete overview, this publication is complemented by Deloitte’s companion manual, Deloitte iGAAP 2010 IFRS reporting in the UK.

Contents

1. Introduction
2. UK regulatory background
3. Preparation, filing and publishing of financial statements
4. General requirements as to financial statements
5. Documents accompanying the financial statements
6. Directors' remuneration
7. Dividends, share purchases and capital maintenance
8. Small and medium-sized companies
9. Abbreviated accounts
10. Summary financial statements
11. Revised financial statements
12. Companies with a difference
13. Partnerships
14. The Accounting Standards Board’s Statement of Principles
15. Profit and loss account
16. Statement of total recognised gains and losses
17. Intangible fixed assets
18. Tangible fixed assets
19. Investment properties
20. Fixed asset investments
21. Impairment of fixed assets and goodwill
22. Stocks and long-term contracts
23. Other current assets
24. The distinction between financial liabilities and equity
25. Recognition and measurement of financial liabilities
26. Disclosure of financial instruments
27. Provisions, contingent liabilities and contingent assets
28. Taxation
29. Share capital and reserves
30. Revenue
31. Retirement benefits
32. Share-based payment
33. ESOP trusts and employee benefit trusts
34. Leasing
35. Foreign currencies
36. Reporting the substance of transactions
37. Cash flow statements
38. Events after the balance sheet date
39. Related-party transactions, including directors’ loans
40. Group accounts
41. Consolidation techniques
42. Associates and joint ventures
43. Segmental information
44. Government grants
45. Earnings per share

Appendices

1. Model annual report
2. Model financial statements for a dormant company
3. Disclosure checklist for section 700 financial statements prepared for an overseas company