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What’s the difference between accounting and bookkeeping?

Reckon

Much like those people who don’t understand the difference between Aussie rules, league and association football and call them all footy, a number of small business owners use the terms accounting and bookkeeping interchangeably. An easy start is to say that an accountant can be a bookkeeper but a bookkeeper isn’t an accountant.

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What is FRS 101?

Menzies

Menzies LLP - A leading chartered accountancy firm. FRS 101 is a framework that allows qualifying subsidiaries to benefit from a reduced disclosure requirement in their individual financial statements. We can also provide practical advice on the preparation of financial statements and the disclosure of information.

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Demystifying Alternative Investment Funds – A Journey Through Compliance, Reporting, and Regulatory Insight

Menzies

Menzies LLP - A leading chartered accountancy firm. We help you to navigate through annual reporting requirements and explain why adherence to the Financial Reporting Standard (FRS 102) goes beyond the basics outlined by the FCA. An AIFM must make available to its investors and the FCA for each AIF it manages an annual report.

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What has a SORP Update Bulletin ever done for us?

Menzies

Menzies LLP - A leading chartered accountancy firm. Users need to refer to the Bulletin as well as the SORP to understand accounting practice in the areas affected. A charity can instead choose to measure such properties at cost less depreciation (and impairment) as it was before FRS102 and as it will be in group accounts.

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Super-Deduction Substituted by Full Expensing

Menzies

Menzies LLP - A leading chartered accountancy firm. It will be necessary to take into account the “4-month payment rules” due to the fact that certain payments are scheduled to be made more than four months after the unconditional obligation to pay for the plant was established.

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The challenge of IFRS compliance

Menzies

Menzies LLP - A leading chartered accountancy firm. Instead of employing specialists to prepare their accounts and make sure all their documentation is in order, some businesses are attempting to do it themselves. Blog How will the new accounting standards impact construction companies? read more What is IFRS 16?

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Focusing on Sustainability for UK Hospitality & Leisure Businesses

Menzies

Menzies LLP - A leading chartered accountancy firm. CO2E Reporting Large entities are already required to report on their CO2 emissions within their financial statements. Communicating these goals: You should consider communicating them to stakeholders either on your website or in your financial statements (or both!)