PrintTransition Guidance
Guidance on the transition to IFRS will be available to download from this page as it is developed. In many cases, the accounting requirements under IFRS are the same as under UK GAAP, so there will be no transition issues. These sections will have “Not required” in the download column in the table below.
This guidance is currently in draft, and has not been considered by CIPFA/LASAAC. It does not carry the authority of the Code.
Chapter / Section |
Download |
Chapter 1 Introduction |
Not required |
2.1 Concepts |
Not required |
2.2 Business Improvement District (BID) Schemes |
Not required |
2.3 Government and Non-Government Grants |
|
2.4 Landfill Allowance and other ‘Cap and Trade’ Schemes |
Not required |
2.5 Machinery of Government Changes |
Not required |
2.6 Principal and Agent Transactions |
Not required |
2.7 Revenue Recognition |
Not required |
2.8 Tax Income (Council Tax etc.) |
Not required |
2.9 Value Added Tax |
Not required |
3.1 Explanatory Foreword |
Not required |
3.2 Statement of Responsibilities |
Not required |
3.3 Accounting Polices, Changes in Accounting Estimates and Errors |
Not required |
3.4 Presentation of Financial Statements |
|
3.5 Housing Revenue Account |
|
3.6 Collection Fund etc. |
Not required |
3.7 Internal Control Statements |
Not required |
3.8 Events after the Reporting Period |
Not required |
3.9 Related Party Disclosures |
Download [PDF] |
4.1 Property, Plant and Equipment |
|
4.2 Leases |
|
4.3 PFI and PPP Arrangements |
Not required |
4.4 Investment Property |
Download [PDF] |
4.5 Intangible Assets |
|
4.6 Revenue Expenditure Funded from Capital under Statute |
Not required |
4.7 Impairment of Assets |
|
4.8 Borrowing Costs |
|
4.9 Non-current Assets Held for Sale |
|
5.1 Inventories |
|
5.2 Work in Progress (Construction Contracts) |
Not required |
5.3 Debtors |
Not required |
6.1 Employee Benefits – Introduction and Definitions |
Not required |
6.2 Benefits Payable During Employment |
|
6.3 Termination Benefits |
Download [PDF] |
6.4 Post-employment Benefits |
Download [PDF] |
6.5 Accounting and Reporting by Pension Funds |
Download [PDF] |
Chapter 7 Financial Instruments |
Download [PDF] |
8.1 Creditors |
Not required |
8.2 Provisions, Contingent Liabilities and Contingent Assets |
Not required |
Chapter 9 Group Accounts |
Download [PDF] |
Appendix A IFRSs with limited application to Local Authorities |
Download [PDF] |