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Interpretation and Application of UK GAAP: For Accounting Periods Commencing On or After 1 January 2015
book

Interpretation and Application of UK GAAP: For Accounting Periods Commencing On or After 1 January 2015

by Steven Collings
April 2015
Intermediate to advanced content levelIntermediate to advanced
546 pages
17h 36m
English
Wiley
Content preview from Interpretation and Application of UK GAAP: For Accounting Periods Commencing On or After 1 January 2015

Chapter 25Specialised Activities

  1. Introduction
  2. Agriculture
  3. Extractive Industries
  4. Service Concession Arrangements
  5. Financial Institutions
  6. Retirement Benefit Plans: Financial Statements
  7. Heritage Assets
  8. Funding Commitments
  9. Incoming Resources from Non-Exchange Transactions
  10. Public Benefit Entity Issues

Introduction

Section 34 Specialised Activities is a fairly vast standard as it covers a wide variety of specialist activities that certain entities reporting under FRS 102 may be involved with. The section covers the following types of activities:

  • Agriculture
  • Extractive Activities
  • Service Concession Arrangements
  • Financial Institutions
  • Retirement Benefit Plans: Financial Statements
  • Heritage Assets
  • Funding Commitments
  • Incoming Resources from Non-Exchange Transactions
  • Public Benefit Entity Combinations and Public Benefit Entity Concessionary Loans

Each of the above types of activity are considered in each of the following sections of this chapter. Within Section 34 in FRS 102 are two appendices offering guidance on funding commitments (Appendix A) and guidance on incoming resources from non-exchange transactions (Appendix B). These two appendices are considered to be integral parts of FRS 102 and should be used by reporting entities that are affected by such activities.

Agriculture

Section 34 of FRS 102 outlines the accounting treatment, measurement and disclosures relating to agricultural activity and agricultural produce. The term ‘agricultural activity’ is taken to mean the entity's ...

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Publisher Resources

ISBN: 9781118819258Purchase book