Articles

From time to time we come across articles of a financial reporting nature that may be of interest. We have assembled a selection of these below: 

• 'Financial reporting for cryptocurrency', an article in the June 2022 edition of Accountancy Ireland by Gavin Fitzpatrick, a Partner in Financial Accounting and Advisory Services at Grant Thornton and Mike O'Halloran, Technical Manager in the Institute’s, Advocacy and Voice Team, looks at the financial reporting considerations for entities who hold cryptocurrencies.

• In February 2022, the world was dismayed by the Russian invasion of Ukraine. The invasion has led to a significant reaction by governments and individuals across the globe. The events have also led to many additional considerations for accountants. The Institute’s article “Financial Reporting implications of the war in Ukraine under FRS 102” looks at some of the financial reporting implications of this for entities preparing financial statements under FRS 102.

• ‘The 2019 Partnerships Regulations’, an article by Eimear McGrath from KPMG in the April 2020 issue of Accountancy Ireland explores some of the key impacts of the European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 and asks to what extent they will widen the financial reporting and filing obligations for partnerships. (Page 46 onwards)
  
  
• ‘The changing face of your Profit and Loss Account’, an article in Accountancy Ireland by Terry O’Rourke, Chair of the Institute’s Accounting Committee and Barbara McCormack, Technical Manager in the Institute’s, Advocacy and Voice Team, looks at how the recent proposals from the International Accounting Standards Board could have dramatic effects on how companies present their financial performance. (Page 42 onwards).
  
  
• During the COVID-19 pandemic, the Institute published an article ‘Accounting and disclosure considerations for Covid-19-related Government Supports under FRS 102’. In view of the supports being made available to business by Governments in both the UK and Ireland to help them cope with the pandemic, the purpose of this article is to remind members of the requirements of FRS 102 on accounting for and disclosing government grants and disclosing government assistance.

These pages are provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.