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Other reporting issues factsheets

Our factsheets provide accessible and practical assistance on UK financial reporting issues arising from the requirements in the Companies Act 2006.

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Purchase of Own Shares

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This factsheet aims to clarify not only when a company can purchase or redeem its own shares but also how that transaction is accounted for. Date published: 9 July 2012.

Distributable Profits

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This factsheet provides practical guidance for UK directors on the determination of distributable profits and the risks of unlawful distributions. Date published: 7 December 2010 (updated 27 September 2011 for Tech 02/10).

Debt for Equity Swaps

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This factsheet explains how to account for ‘debt for equity swaps’ in accordance with IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments. It will also be relevant under UK GAAP for companies applying FRS 26 (IAS 39) Financial Instruments: Recognition and Measurement. Date published: 8 June 2011.

Revision of Defective Accounts

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This factsheet offers practical guidance on the rules to follow when dealing with voluntary revisions to defective accounts and reports. Date published: 7 December 2010 (updated: March 2014).