Filleted accounts: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Create the page. (Source: http://www.accountingweb.co.uk/business/finance-strategy/big-changes-to-abbreviated-accounts-coming)) |
imported>Doug Williamson (Standardise page layout.) |
||
| Line 4: | Line 4: | ||
However, fuller-form and more detailed accounts are normally still required for other purposes. For example, for most tax purposes and for reporting to shareholders. | However, fuller-form and more detailed accounts are normally still required for other purposes. For example, for most tax purposes and for reporting to shareholders. | ||
Sometimes known as filleted financial statements. | Sometimes known as filleted financial statements. | ||
Revision as of 10:36, 9 February 2017
Filleted accounts are accounts which contain less information than full accounts.
Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations.
However, fuller-form and more detailed accounts are normally still required for other purposes. For example, for most tax purposes and for reporting to shareholders.
Sometimes known as filleted financial statements.
