Applying GAAP 2006/2007
A practical guide to financial reporting
Applying GAAP 2006/2007 (Generally Accepted Accounting Practice) is
now in its fourteenth edition and has earned its position as the established, reliable and
easy-to-use guide to all UK Accounting Standards. This annual guide has been written and
revised so that the latest Standards can be applied in day-to-day practice; it will also
prove a useful reference to forthcoming changes and developments.
Applying GAAP 2006/2007 covers all Financial Reporting Standards and Exposure Drafts
issued by the Accounting Standards Board at 30 April 2006, together with practical
guidance for all those who produce, audit or use company accounts. New updating features
for this edition include commentary on:
• FRS 28 Corresponding Amounts
• FRS 29 (IFRS 7) Financial Instruments: Disclosures
• Amendment to FRS 17 Retirement Benefits
• Amendment to FRS 26 (IAS 39) Financial Instruments: Disclosures
• UITF Abstract 41 - Scope of FRS 20 (IFRS 2)
• UITF Abstract 42 - Reassessment of Embedded Derivatives
In over 800 pages Applying GAAP 2006/2007 interprets and illustrates the Standards in
operation. With extensively worked examples, additional draft layouts and advice on best
practice, it is an indispensable source of expert advice to practitioners, accountants in
business and students alike.
Table of Contents
Accounting Principles
General Requirements
The Directors' Report and Directors' Remuneration Report
Revenue Recognition
Reporting Financial Performance
Segmental Reporting
Staff Costs
Taxation
Earnings Per Share
Foreign Currency Translation
Fixed Assets
Government Grants
Investments, Capital Instruments and Financial Instruments
Stocks
Long-Term Contract Work in Progress
Leases and Hire Purchase Contracts
Provisions, Contingent Liabilities and Contingent Assets
Events after the Balance Sheet Date
Cash Flow Statement
Directors and Related Parties
Group Accounts
Small Company and Abbreviated Accounts
Summary Financial Statements
Paperback
865 pages