Financial and Accounting News

• July 2, 2011 CEC and UK Collide over Foreign Company Tax THE MISSIVE FR OM the European Commission last week criticising the UK's controlled foreign companies (CFC) legislation should not, at first glance, provide too many problems for the government. The EC criticised the UK ...
• July 2, 2011 Controlled Foreign Companies Consultation Launched TAX LAWS surrounding controlled foreign companies (CFCs) came under scrutiny today as the government launched a consultation to reform the complex legal area. CFCs are based abroad but controlled by someone who lives in ...
• July 2, 2011 HMRC begins first phase of Business Records Checks Over 1,000 small and medium-sized enterprises (SMEs) will be targeted in HMRC’s first round of Business Records Checks (BRC). Following a period of consultation, the taxman is already arranging visits to ...
• July 2, 2011 CFC Rules Could Contravene EU Law THE GOVERNMENT'S reforms to controlled foreign companies (CFC) legislation might not make them compatible with European Union law, experts have warned. A consultation document released yesterday fleshed out the ...
• June 30, 2011 Latest Batch of Editorial Corrections to IFRSs Released by the IASB The IASB has posted to its website a new batch of Editorial Corrections to IFRSs. This batch makes editorial corrections and changes to IFRS for SMEs (issued July 2009), Conceptual Framework for Financial Reporting ...
• June 29, 2011 New Edition of IFRSs in Your Pocket Deloitte have published the tenth edition of our popular guide to IFRSs – IFRSs In Your Pocket 2011 (PDF 553k). This 134-page guide includes information about: The IASB organisation ...
• June 29, 2011 Microsoft Office 365 Goes Live Microsoft CEO Steve Ballmer launched the much-awaited Office 365 on Tuesday, after a beta program of about nine months, as the company responds -- some critics say belatedly -- to the rising popularity of cloud-based applications for collaboration and communication.
• June 28, 2011 Numbers of Accountants up but Fees Falling Membership of the accountancy profession is growing but fee income is falling, according to the latest annual report from the Financial Reporting Council’s Professional Oversight Board (POB). The ninth edition of ...
• June 27, 2011 XBRL Taxonomy for Sustainability Reporting to be Developed Deloitte and the Global Reporting Initiative (GRI) have announced a collaboration to work on a new eXtensible Business Reporting Language (XBRL) taxonomy for sustainability reporting. The new XBRL taxonomy will enable ...
• June 23, 2011 IAESB Proposes Clarified Standard on Professional Accounting Education Entry Requirements The International Accounting Education Standards Board (IAESB) today released for public exposure a proposed revision of International Education Standard (IES) 1, Entry Requirements to a Program of Professional Accounting ...