financial reporting

  • Discussion topic
    04/07/2013 - 1:49pm
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  • Blog Entry
    19/09/2011 - 3:54pm

    The Department of Business, Innovation and Skills (BIS) and the Financial Reporting Council (FRC) have launched a consultation seeking views on a simplified reporting regime for ‘micro-entities'.

    It is proposed that a micro-entity is a company or unincorporated business that trades for profit and does not exceed two of the three following criteria:

  • Blog Entry
    19/05/2011 - 12:59pm

    The British Museum is an amazing place - well worth a visit if you are ever in London.  Describing itself as a museum of the world for the world, it has a bold global agenda to help us all understand the past and shape our future.  So it made a perfect location for the CIMA bi-annual Howitt lecture 'Global governance - time for a behavioural revolution' which was delivered this year by CIMA's Professor of Accounting and Financial Management at the London School of Economics, Wim Van der Stede.

  • Blog Entry
    18/05/2011 - 11:31am

    Social media is a rapidly-expanding technology which is generating a radically different way of doing business.

    However, as we have read via Alvin Toffler’s “Future Shock”, our inability to keep up with and adapt to rapid changes in technology can leave us all left behind and unable to benefit from it.

    •    Is social media a Marmite product which we either love or loathe ?
    •    Is this technology only for young people to benefit from?

  • Discussion topic
    31/12/2010 - 5:43am

    Come 2011 Sri Lanka will be keeping an important step in the field of financial accounting, as it will report the first comparative financial statements based on the international accounting standards. Simple as it may sound, it is not such an easy task!

  • Discussion topic
    25/11/2010 - 1:34pm


    One of our members has asked us the following:

  • Blog Entry
    18/11/2010 - 2:46pm

    You will have read about CIMA's involvement in an exciting collaborative project with PwC and Tomorrow's Company researching the barriers to the effective development of corporate reporting.

  • Discussion topic
    05/10/2010 - 7:07am

    CIMA Sri Lanka recently held a focus group discussion among industry leaders to discuss the way forward for corporate reporting in Sri Lanka.

  • Discussion topic
    06/08/2010 - 10:06am

    Hi there

     Has anyone come across the abbreviation "th" in financial reports? For example, a company is reporting its results and after Balance sheet in brackets it says (th GBP) or (th USD), what does the th stand for?

     Many thanks


  • Discussion topic
    20/07/2010 - 4:56pm

    We have the issue where we are consolidating 7 ERP's and 11 business units (all owned by the same legal entity in the UK) which currently trade with each other using various different pricing rules. Some are cost + freight, other make a good margin on these sales.

    We will move to one shared virtual warehouse so potentially we can "transfer" this stock however this is cause some emotive discussion as there are some business units who genuinely add value to a product and wouldn't therefore get the benefit.

  • Discussion topic
    29/06/2010 - 2:20pm

    I am looking to upgrade/replace the current finance system within our organisation in the next year to enable better reporting and provide better quality information to our management team while reducing the time taken to produce the monthly accounts.

    Our business is an IT services and support company that provide a variety of IT solutions, consultancy. Which involves many different types of billing, support contracts, product invoices, services invoices, staged payment plans etc etc.

  • Blog Entry
    25/06/2010 - 9:57am

    Following England’s tense victory over Slovenia in the World Cup this week which I watched with fellow CIMA staff in the Council Chamber, I attended a Tomorrow’s Corporate Reporting project meeting with colleagues from Tomorrow’s Company and PriceWaterhouseCoopers. The meeting was significantly more relaxed but nonetheless successful.

  • Discussion topic
    22/12/2009 - 12:04pm

    Whatever your views on the Copenhagen Climate Change conference, it certainly hasn't produced a clear political direction on how to respond to global warming whether that's man-made, part of the natural planetary cycle, or simply a marketing strategy to fund Al Gore's next election campaign. So does that mean it's up to us now?

  • Discussion topic
    28/09/2009 - 11:22am

    One of my responsibilities at CIMA is to formulate our policy to the many and varied developments in financial reporting.  This predominantly relates to proposed changes to IFRS but also covers local GAAP.

  • Discussion topic
    11/06/2009 - 1:15pm
    We are currently installing Oracle Core Model and our French owners are changing the way we capture costs to Natural Accounting methodology. As such, this has meant a 4 fold increase in the number of cost centres, as we will have to prepare budgets for reporting costs by nature and department.

    Has anyone else had to adopt this technique in the UK and what pitfalls have they encountered?
  • Discussion topic
    14/05/2009 - 2:05pm

    Dear All,

    Has any one got any ideas of any web sites I can visit with a simple & easy comparison & updates on convergence between IFRS & US GAAP. I have looked at many web sites & you have to trail through lots of information.

    This would be useful for the P8 exam.