Publisher's Synopsis
Accounts and Audit of Limited Liability Partnerships, Fourth Edition offers comprehensive guidance on how to apply UK GAAP to limited liability partnerships, clearly explaining the new requirements resulting from the implementation of FRS 102. The principles and practice of accounting for members' interests, retirement benefits and groups are also addressed in detail.
Practical tips to simplify daily challenges
Written by a specialist whose client base consists primarily of LLPs, this book is packed full of real-life examples to aid understanding of the key concepts and complexities in LLP accounting. Additional practical assistance includes tips, best practice principles, model auditors' reports and pro forma accounts for both groups and single LLPs.
The very latest guidance
With the financial reporting landscape undergoing significant change, this timely fourth edition is fully updated to cover:
The Statement of Recommended Practice (SORP) on Accounting by Limited Liability Partnerships 2014
Merger accounting for group reconstructions under FRS 102
The ways in which FRS 102's requirements relating to financial liabilities differ from the current UK GAAP regime
The introduction of the option to produce a single statement of comprehensive income
Relevant legislation: Limited Liability Partnership Act 2000; Companies Act 2006; Small Limited Liability Partnerships (Accounts) Regulations 2008; Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008
Keep pace with industry change
Since the Limited Liability Partnerships Act 2000 came into force in 2001, the number of LLPs has increased significantly. Couple this trend with the mandatory implementation of FRS 102 and it soon becomes apparent that staying abreast of developments is a top priority for professionals in this sector.
Who should buy this book?
Accounts and Audit of Limited Liability Partnerships is an invaluable resource for tax advisers and accountants with existing LLP clients or clients considering conversion to LLP status, as well as auditors and finance teams in LLPs.
Previous edition ISBN: 9781847665034
