Central government last week decided to allow Northamptonshire County Council to use capital receipts from the sale of its headquarters to balance its revenue budget. Stephen Sheen investigates the accounting[…]
Stephen Sheen looks at how a suite of new accounting standards will impact preparations for next year’s statements of accounts. As the ink dries on the 2017/18 statement of accounts,[…]
After a decade of deliberation the IFRS 16 lease accounting standard is set to hit local authorities. Stephen Sheen writes the change means a substantial piece of work for finance[…]
The accounting standard IFRS 9 has prompted much debate. Last week, Peter Worth argued against a statutory override. This week Stephen Sheen makes the case for it. In a previous[…]
For those with a sense of humour IFRS 9 is sadly no practical joke. It’s time to prepare for impairment losses… and a game of Jumanji. While we wait expectantly[…]
I was planning to write an article about the prognosis for the 2017/18 accounts closedown and accompanying audit issues. However, the sad demise of Mark E. Smith caused me to[…]
The government has issued a single consultation paper on the Prudential Framework, proposing changes to two key documents: the statutory guidance provisions for local authority investments and for minimum revenue[…]
IFRS 9: “If you meet someone who claims grandly to have read it all and understood it, this is not the sort of person to trust with either your fidget[…]
Auditors issue threats of qualification based on dogmatic demands but often their objections can be managed with a little push-back. Since I stopped being an external auditor five years ago,[…]
Auditors might appear to be upping their action against struggling local authorities, but Stephen Sheen argues there’s little incentive to do anything beyond writing to suggest a council puts its financial[…]
