Preparing LLP Accounts 2020–21
- About the authors
- STOP PRESS
- What’s changed?
- 1 Framework and scope
- 2 General accounting provisions for LLPs
- 3 Accounts and accounting standards
- 4 Size classiﬁcation for LLPs
- 5 Contents of LLP accounts
- 6 Micro LLP accounts
- 7 Requirement to prepare group accounts
- 8 Specific LLP accounting requirements
- 9 Determining LLP audit exemption
- 10 Example accounts
- 11 LLP audit and assurance reports
- 12 Filing accounts for LLPs
- 13 Future of UK ﬁnancial reporting for LLPs
- 14 Transition to FRS 102
- Appendix A Guidelines and deﬁnitions
- Appendix B Companies Act 2006 accounts and audit sections applicable to LLPs
- Appendix C Small Limited Liability Partnerships (Accounts) Regulations 2008 (SI 2008/1912)
- Appendix D Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008 (SI 2008/1913)
- Appendix E Decision chart to determine size qualiﬁcation
- Appendix F Decision chart to determine LLP Audit exemption
- Appendix G LLP SORP disclosure checklist
- Appendix H Further resources
- Appendix I Abbreviations and Statutory Instruments
- Appendix J Summary of implementation dates
Catherine Willshire FCA, DChA and Iain Storey FCA from Price Bailey.
Preparing LLP Accounts 2020–21 explains how to interpret the latest accounting requirements under FRS 102, FRS 105 and relevant legislation to help you in preparing or reviewing LLP accounts. It covers LLPs of all sizes, appealing equally to finance staff, to new employees who want to get to grips with the main differences between LLPs as compared to companies and to experts seeking comprehensive reference material.
LLP accounting can be a complex area, with specific requirements. The guide takes a practical approach, stripping away unnecessary complexities with checklists and sample model accounts..
The guide is fully updated for legislation and accounting standards issued up to 30 April 2020, including latest Brexit legislation, FRS 105 amendments and the FRC auditors’ report bulletin. See what's changed for details of updates made.
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