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04 Jul 2011
CENTRAL AND DEVOLVED government, as well as the NHS, have successfully switched their accounts to international financial reporting standards.
The Financial Reporting Advisory Board's recent annual report showed the change was made following the financial year 2009-10; the project was described as "challenging".
Further reading
FRAB chairman Kathryn Cearns called the transition "a major achievement" and said the Whole of Government Accounts to be published under IFRS will provide "additional accountability and transparency provide to stakeholders, including to Parliament".
However, FRAB that warned delays on new accounting standard IAS 27 – which deals with consolidated and separate financial statements – are hurting NHS bodies with links to charitable funds.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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