• E-mail us
  • View our Pinterest page
  • Join us on LinkedIn
  • Follow us on Twitter

Northern Society of Chartered Accountants

At the heart of northern business since 1882

Accounts and business tax for sole traders and partnerships under new UK GAAP

Date: 15 November 2016 09:30-12:30

Type: Audit Assurance and Financial Reporting, Course

Organiser: Tyne and Wear

The starting point for income tax computations is profit per the accounts, and this profit must be prepared in accordance with generally accepted accounting practice (GAAP).

The changes in company law and accounting standards make significant changes to GAAP, and have consequent implications for tax.

In this course we outline those changes and help practitioners with the following questions:

  • What will change in computing accounting profit for unincorporated businesses?
  • What choices will business have in relation to accounting policies?
  • How will the balance sheet change?
  • What are the implications for banks and credit references?
  • What are the implications for tax and HMRC?
  • What will be the impact on your fees?

Content will include:

  • How big is your business and what options apply?
  • The profit and loss account – will the new rules change your accounting profit in relation to:
  • Income recognition?
  • Financial instruments?
  • Lease incentives?
  • Foreign currency transactions?
  • Payroll costs?
    • The balance sheet – will there be any changes in the recognition and measurement of:
  • Intangible assets?
  • Tangible fixed assets?
  • Debtors and creditors?
    • Why you need to understand the financial instruments rules!
    • Practical application for typical businesses such as farmers, retailers and professional practices.

 NB This course assumes little or no prior knowledge of new UK GAAP.

This event is designed for Partners and staff preparing accounts and tax computations for unincorporated businesses.

Share this event...


Newcastle Gateshead Marriott Hotel Metro Centre

Metro Centre
NE11 9XF

Tel No: 0191 493 2233


Bill Telford  – Telford Financial Training Ltd

Bill Telford – Telford Financial Training Ltd

Bill qualified as an accountant with an international big four firm in 1975 and has spent the last 30 years in education and training. In 2000, he joined Baker Tilly as National Training Director and he has served on both the ICAEW Council the Learning & Professional Development Board. He has recently retired as a partner with Baker Tilly and is now trading as a freelance lecturer and training consultant.

How to book

The easiest way to book is online by clicking the button to Book Online at icaew.com – you will be able to log into your account at icaew.com and pay with your debit or credit card.

You can also telephone the ICAEW central events booking team on 01908 248159 and pay over the phone.

Alternatively you can download a booking form or book by email.