REDUCED DISCLOSURES

摘要

Over the last few months we have looked at some of the practical accounting challenges facing small businesses. This month we consider preparation of the accounts themselves. Small companies benefit from access to Section 1 A, which sets out significantly reduced disclosures. But since the accounts still need to give a true and fair view, many small companies will find it necessary to go beyond the minimum disclosures to make sure users have enough information to understand the accounts. Here we look at the requirements in Section 1A and consider some of the problem areas already arising in practice.