Widening the GAAP

Article Abstract:

Under the Financial Reporting Standard for Smaller Entities, a "Little GAAP" has been available for small companies, in that the Accounting Standards Board allows them a simplified financial reporting regime. The Board is now considering whether this type of regime should continue.

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Merger accounting

Article Abstract:

Issues concerning the accounting regulations of mergers are discussed. Particular attention is given to pressure from businesses worldwide to abolish merger accounting. The Accounting Standards Board's response to these pressures is examined.

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A remarkable performance

Article Abstract:

The provisions of the UK Financial Reporting Exposure Draft 22 on financial performance produced by the UK Accounting Standards Board are discussed, with focus on the shortcomings of the treatment of unclassified items.

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