NIPS Code and Neutrality: Difference between pages

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''UK''.
''Financial reporting - accounting concepts.''


The former Non-Investment Products Code.
In financial reporting, neutrality means avoiding bias of any kind.


The NIPS code has now been superseded.


The successor codes are the FX Global Code and the UK Money Markets Code.  
Under the IFRS Conceptual Framework, neutrality is an essential component of 'faithful representation'.


In turn, a neutral representation is supported by prudence.


The former NIPS code covered standards, controls and dealing mandates in the UK's wholesale financial markets.


Its scope included wholesale markets in:
== See also ==
*Sterling wholesale deposits;
* [[Accruals accounting]]
*Foreign currency wholesale deposits;
* [[Conceptual framework]]
*Gold and silver bullion wholesale deposits;
* [[Faithful representation]]
*Spot and forward foreign exchange; and
* [[Financial reporting]]
*Spot and forward gold and silver bullion.
* [[Neutral]]
* [[Prudence]]
* [[Relevance]]
* [[Substance over form]]
* [[Useful financial information]]


 
[[Category:Accounting,_tax_and_regulation]]
== See also==
* [[Bullion]]
* [[Code of practice]]
* [[Controls]]
* [[Foreign exchange]]
* [[Forward contract]]
* [[Forward market]]
* [[Forward rate agreement]]
* [[FX Global Code]]
* [[Mandate]]
* [[Non-investment product]]
* [[Spot]]
* [[Standard]]
* [[UK Money Markets Code]]
* [[Wholesale]]
 
[[Category:Compliance_and_audit]]

Revision as of 21:46, 24 March 2023

Financial reporting - accounting concepts.

In financial reporting, neutrality means avoiding bias of any kind.


Under the IFRS Conceptual Framework, neutrality is an essential component of 'faithful representation'.

In turn, a neutral representation is supported by prudence.


See also