Today, many business people are trading using a limited company. It is not only adding credibility to the business but also the concept of limited company provides limited liability to its shareholders up to the amount they paid for the share capital. A limited company is a separate legal entity to its directors and shareholders.
The law requires limited company accounts to be presented in a prescribed format and according to relevant set of accounting rules and it can be highly complex.
Below is the list of UK accounting standards applicable to UK companies. These accounting standards are known as Statements of Standard Accounting Practice (SSAP) for accounting standards issued prior to September 1990 and thereafter they are known as Financial Reporting Standards (FRS).
Concise Accountancy provides fixed fee accounting services to limited companies. Feel free to contact us should you require help in compiling your company accounts. Alternatively visit the UK Accounting Company a directory of UK accounting firms with list of chartered & certified companies offering accounting, tax & vat, bookkeeping, payroll services to businesses.
List of UK Accounting Standards
| SSAP4 |
The accounting treatment of government grants |
| SSAP5 |
Accounting for value added tax |
| SSAP9 |
Stock and long term contracts |
| SSAP13 |
Accounting for research and development |
| SSAP 17 |
Accounting for post-balance sheet events |
| SSAP19 |
Accounting for investment properties |
| SSAP20 |
Foreign currency translation |
| SSAP21 |
Accounting for leases and hire purchase contracts |
| SSAP24 |
Accounting for pension costs |
| SSAP25 |
Segmental reporting |
| FRSSE (effective April 2008) |
Financial Reporting Standard for Smaller Entities |
| FRS1 (Revised 1996) |
Cash flow statements |
| FRS2 |
Accounting tor subsidiary undertakings |
| FRS3 |
Reporting financial performance |
| FRS4 |
Capital instruments |
| FRS5 |
Reporting the substance of transactions |
| FRS6 |
Acquisitions and mergers |
| FRS7 |
Fair values in acquisition accounting |
| FRS8 |
Related party disclosures |
| FRS9 |
Associates and joint ventures |
| FRS10 |
Goodwill and intangible assets |
| FRS11 |
Impairment of fixed assets and goodwill |
| FRS12 |
Provisions, contingent liabilities and contingent assets |
| FRS13 |
Derivatives and other financial instruments: disclosures |
| FRS14 |
Earnings per share |
| FRS15 |
Tangible fixed assets |
| FRS16 |
Current tax |
| FRS17 |
Retirement benefits |
| FRS18 |
Accounting policies |
| FRS19 |
Deferred tax |
| FRS20 (IFRS2) |
Share-Cased payment |
| FRS21 (IAS10) |
Events after (he balance sheet date |
| FRS22 (IAS33) |
Earnings per share |
| FRS23 (IAS21) |
The effects of changes in foreign exchange rates |
| FRS24 (IAS29) |
Financial reporting in hyperinflationary economies |
| FRS25 (IAS32) |
Financial Instruments; Disclosure and Presentation |
| FRS26 (IAS39) |
Financial Instruments; Measurements |
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