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Cutting through UK GAAP

Cutting through UK GAAP

New UK GAAP is now in force, applicable for periods beginning or after 1 January 2015.

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Cutting through UK GAAP

New UK GAAP replaces the previous, long-standing UK accounting standards and comprises a multiplicity of separate accounting frameworks, all of which are part of New UK GAAP. Much of their effect will be comfortable and familiar, but there is also much change.

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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