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Technical helpsheets

Helpsheets prepared by ICAEW Technical Advisory Services to assist you in your day-to-day work. We offer practical advice, respond to frequently asked questions and highlight the issues you may need to consider.

Browse more helpsheets and guidance by topic. If you cannot find the answer to your specific question, please contact the Technical Advisory helpline on +44 (0)1908 248 250.

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Accounting

Accelerated Payment Notices
Technical helpsheet on how to account for corporation tax Accelerated Payment Notices (APNs).

Accounting for cryptocurrencies under FRS 102
The purpose of this technical helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.

Accounting for fixed asset investments under FRS 102
Technical helpsheet to help ICAEW members understand key aspects of accounting for fixed asset investments under FRS 102.

Accounting for groups under FRS 102
Technical helpsheet to help ICAEW members to understand key aspects of accounting for groups under FRS 102.

Accounting for a hive up under FRS 102
Technical helpsheet covering the basic accounting requirements for a 'hive up' restructure within a group of companies.

Accounting for intangible assets under FRS 102
Technical helpsheet to help ICAEW members understand key aspects of accounting for intangible assets and goodwill under FRS 102.

Accounting for investment property under FRS 102
Technical helpsheet to help ICAEW members understand key aspects of accounting for investment property under FRS 102.

Accounting for leases under FRS 102
Technical helpsheet to help ICAEW members understand key aspects of accounting for leases under FRS 102.

Amortised cost calculator
Technical tool which calculates amortised cost using the effective interest method.

Can accounts be prepared and filed at Companies House in foreign currency?
Technical helpsheet to help ICAEW members to understand whether companies can prepare and file their accounts at Companies House in a foreign currency.

Can I revalue an intangible asset under FRS 102?
Technical helpsheet to help members understand when it may be possible to revalue intangible assets and the criteria for doing so under FRS 102.

Can I undertake and an independent examination of a charity?
Helpsheet issued by ICAEW’s Technical Advisory Service for members who are approached by charities asking them to undertake independent examinations. It explores some of the factors to consider before accepting such an appointment.

Charities - financial reporting and scrutiny (England and Wales)
Technical helpsheet issued to help ICAEW members to understand key requirements relating to the financial reporting and scrutiny of charities registered in England and Wales.

Charities - financial reporting and scrutiny (Northern Ireland)
Technical helpsheet issued to help ICAEW members to understand key requirements relating to the financial reporting and scrutiny of charities registered in Northern Ireland.

Charities - financial reporting and scrutiny (Scotland)
Technical helpsheet issued to help ICAEW members to understand key requirements relating to the financial reporting and scrutiny of charities registered in Scotland.

Charities - Legal and regulatory framework
Technical helpsheet issued to help ICAEW members to understand key aspects of the legal and regulatory framework for charities registered in England and Wales, Scotland or Northern Ireland.

Deferred tax under FRS 102
Technical helpsheet issued to help members understand how to account for deferred tax under FRS 102.

Do directors’ loans require approval?
Technical helpsheet to help members understand when loans to a director of a company require approval and when possible exceptions to the requirements are available.

Do I have to disclose employee numbers?
Technical helpsheet to help members understand whether disclosure of employee numbers is required for a company.

Do I need to disclose secured debts?
Technical helpsheet to help members understand the requirements for disclosure of secured debts for micro, small, medium and large entities.

Does a charity need a cash flow statement?
Technical helpsheet to help members understand when a charity requires a Statement of Cash Flows (often referred to as a cash flow or a cash flow statement).

Foreign currency translation under FRS 102
Technical helpsheet issued to help members understand foreign currency translation under FRS 102.

FRS 102: First-time adoption and transition considerations
Technical helpsheet addressing some of the commonly asked questions around first-time transition to FRS 102.

FRS 102: Section 1A Small Entities
Technical helpsheet addressing the changes to accounting standards for small entities introduced by FRS 102.

FRS 102: What is the useful economic life of goodwill under FRS 102 and FRSSE 2015?
Technical helpsheet summarising the maximum useful lives applicable under the FRSSE and FRS 102 in exceptional circumstances where the useful life cannot be reliably estimated.

Hedge accounting under FRS 102
Technical helpsheet issued to help ICAEW members to understand aspects of hedge accounting under FRS 102.

How do I account for a change in depreciation?
Technical helpsheet to help members understand how to deal with a change in depreciation and whether this change is accounted for prospectively or retrospectively under FRS 102.

How do I account for a dividend received from a subsidiary?
Technical helpsheet to help ICAEW members understand how to account for dividends received from a subsidiary in the parent’s individual financial statements under UK GAAP.

How does a lessee account for a rent free period under FRS 102?
Technical helpsheet to help members understand how lessees should account for an operating lease with a rent free period under FRS 102 and provides a practical example of the calculations required.

Preference shares - equity or liability under FRS 102?
Technical helpsheet to help ICAEW members understand how to account for preference shares in the financial statements of both the holder and the issuer under FRS 102.

Related party disclosures under FRS 102
Technical helpsheet to help ICAEW members understand key disclosure requirements for related parties under FRS 102.

Transfers between investment property, PPE and inventories under FRS 102
Technical helpsheet to help ICAEW members with accounting for the transfer of property between Investment Property, Property, Plant and Equipment (PPE) and Inventories under FRS 102.

What is the lease term?
Technical helpsheet to help members understand the definition of lease term under UK GAAP and provides an example of how to apply the definition.

Which accounting standard do I use for clubs, associations and societies?
Technical helpsheet to help ICAEW members to understand which accounting standards apply to different types of clubs, associations and societies.

Which accounting standard do I use for SSAS pension schemes?
Technical helpsheet issued to help ICAEW members determine which accounting standard should be used when preparing the accounts of a small self-administered pension scheme (SSAS pension scheme).

Which accounting standard do I use for sole traders and partnerships?
Technical helpsheet to help ICAEW members understand which accounting standards apply to sole traders and partnerships and why.

Old UK GAAP

Should I apply SSAP 20 or FRS 23 when looking at foreign currency?
Sample question and answer addressing which financial reporting standard to apply when looking at foreign currency. 

What exchange rate should I use to translate year end balances?
Sample question and answer on what exchange rate to use when translating year end balances.

How should I account for a 'hive up'?
Sample question and answer on the double entry bookkeeping for a 'hive-up'.

Audit and assurance 

Audit of clubs, associations and societies
Technical helpsheet regarding audit regulations for clubs, associations and societies.

Audit reports - overview
Technical helpsheet issued to help ICAEW members understand the key changes to the audit reports for periods beginning on or after 17 June 2016 under International Standards on Auditing (UK) (ISAs (UK)).

Auditing groups - subsidiaries
Technical helpsheet issued by to help ICAEW members to understand their responsibilities regarding subsidiaries when auditing the group accounts and the implications on the auditor’s report where access to the financial information of subsidiaries is denied by the parent entity.

Auditing micro-entities
Technical helpsheet to help ICAEW members when considering whether to accept engagement as auditor to a company preparing its accounts under the micro-entity regime.

Auditing Standards 2016
Technical helpsheet on the FRC Auditing Standards 2016 for periods commencing on or after 17 June 2016. It explains some key changes to the ISAs (UK), which replace the previous ISAs (UK & Ireland).

Auditor resignation – auditor and company responsibilities
A pair of technical helpsheets which explain the responsibilities of auditors on resignation from a NON public interest company, and the responsibilities of the company after the auditors cease to act. Applicable to financial years beginning on or after 1 October 2015.

Audit reports – modified opinions, emphasis of matter and other matter paragraphs
Technical helpsheet issued to help ICAEW members to identify the various changes that may need to be made to audit reports under International Standards of Auditing (UK) where there is a modified opinion, emphasis of matter or other matter paragraph.

Auditor Resignation under Companies Act
Technical helpsheet explaining what happens when an auditor resigns.

Can a small UK subsidiary of an overseas parent qualify for audit exemption under Companies Act 2006?
Technical helpsheet on whether a company trading in the UK can take advantage of audit exemption, as it is a subsidiary of a company incorporated overseas.

Can a small UK subsidiary of an overseas parent qualify for audit exemption? 
This helpsheet has been issued by ICAEW’s Technical Advisory Service to help members make their assessment as to whether a UK subsidiary of an overseas parent is entitled to audit exemption under the Companies Act 2006.

How should the 'net' and 'gross' criteria be applied when determining audit exemption under Companies Act 2006? 
Technical helpsheet on how the Companies Act 2006 net and gross criteria should be applied when applying the size criteria in determining the size of a parent company.

Ineligible companies and groups
Technical helpsheet to help members understand when a company or a group is ineligible for the small companies regime. The helpsheet identifies the legislative requirements of the Companies Act 2006, highlights key definitions and offers practical examples to help understand the interpretation of the requirements.

Is an audit required for a company?
Technical helpsheet issued to help ICAEW members understand when a company requires an audit under the Companies Act 2006 and potential routes to audit exemption. 

References on clients’ financial status
Technical helpsheet explaining accountants' responsibilities when asked to provide a financial reference for a client.

Registered auditor signing requirements
This helpsheet provides guidance on the more common reports prepared by accountants which require signature by a registered auditor.

Requirements for unaudited overseas subsidiaries when auditing the group accounts
Sample question and answer on the topic of what to do with regards unaudited overseas subsidiaries when auditing the group accounts.

Company law

Periods beginning before 1 January 2016

Calculating employee numbers for the small company criteria
Technical helpsheet explaining how to work out employee numbers for the small company criteria set out in the Companies Act 2006.

Can a small UK subsidiary of an overseas parent qualify for audit exemption under Companies Act 2006?
Technical helpsheet on whether a company trading in the UK can take advantage of audit exemption, as it is a subsidiary of a company incorporated overseas.

Filing accounts at Companies House - practical considerations
Technical helpsheet explaining the requirements for filing accounts at Companies House.

How should the 'net' and 'gross' criteria be applied when determining audit exemption under Companies Act 2006? 
Technical helpsheet on how the Companies Act 2006 net and gross criteria should be applied when applying the size criteria in determining the size of a parent company.

Is a group ineligible under the Companies Act 2006?
Technical helpsheet on the definition of an ineligible group under the Companies Act 2006.

Small group filing requirements
Sample question and answer regarding accounts filing requirements for small group parent companies preparing statutory consolidated accounts.

What directors transactions are disclosable under the Companies Act 2006?
Technical helpsheet covering disclosures relating to abbreviated accounts, dividends and overdrawn loan accounts.

What should be included in the balance sheet statement when claiming small company exemptions?
Sample question and answer covering balance sheet statements for various small company exemptions.

When can a subsidiary be excluded from consolidation?
Technical helpsheet in the form of a flowchart to help decide in what circumstances a subsidiary can be excluded from consolidation.

Periods beginning on/after 1 January 2016

Abridged accounts for small companies
Technical helpsheet addressing some common questions around the option to prepare abridged accounts for small companies.

Balance sheet statements for small companies and LLPs
Technical helpsheet to help ICAEW members understand the balance sheet statements for small companies and LLPs.

Calculating employee numbers
Technical helpsheet issued to help ICAEW members to understand how to calculate employee numbers for the purpose of determining the size of a company or group and for disclosure in the accounts.

Community Interest Companies (CICs)
Technical helpsheet issued to help ICAEW members understand key aspects of the legal, regulatory and reporting frameworks for Community Interest Companies (CICs).

Disclosure of related undertakings, parent entities and ultimate controlling parties
Technical helpsheet to help ICAEW members understand the disclosure requirements for companies with regard to their subsidiaries, associates, joint ventures, parents and controlling parties. This helpsheet explores the requirements for small companies preparing their accounts under FRS 102 Section 1A, as well as medium or large companies preparing their accounts under full FRS 102.

Ineligible groups and companies
This helpsheet has been issued by ICAEW’s Technical Advisory Service to help members understand when a company or a group is ineligible for the small companies regime.

Is a company dormant?
Technical helpsheet issued to help ICAEW members to understand whether or not a company is dormant under the Companies Act 2006.

Is a company micro?
Technical helpsheet issued to help members understand when a company qualifies as a micro entity under the Companies Act 2006.

Is a company or group small? 
Technical helpsheet issued to help members make their assessment as to whether a company or group qualifies as small under the Companies Act 2006.

SI 2015/980: Accounts filing exemptions under the Companies Act 2006
Technical helpsheet on the option to file only certain portions of the annual report and financial statements under the Companies Act 2006 as amended by the 2015 Regulations.

SI 2015/980: Can a small UK subsidiary of an overseas parent qualify for audit exemption?
Technical helpsheet on the factors to consider when deciding whether a company requires and audit under the Companies Act 2006 as amended by the 2015 Regulations. 

SI 2015/980: Is an audit required for a company? 
Technical helpsheet providing a flowchart, with notes, on whether a company requires and audit under the Companies Act 2006 as amended by the 2015 Regulations.

SI 2015/980: What directors' transactions are disclosable under the Companies Act 2006 as amended?
Technical helpsheet addressing some of the commonly asked questions around the required disclosures of directors’ transactions under the Companies Act 2006 as amended by 2015 Regulations.

When can a subsidiary be excluded from consolidation under FRS 102?
Technical helpsheet and flowchart to help members understand the limited situations in which a subsidiary may be excluded from consolidation under FRS 102 and the accounting treatment for such subsidiaries.

All periods

Companies limited by guarantee
Technical helpsheet issued to help ICAEW members address some of the key considerations for companies limited by guarantee.

Illegal dividends in a private company
Technical helpsheet regarding the payment of illegal dividends in a private company.

Limited partnerships
This helpsheet explains what a limited partnerships is, how it operates and the responsibilities of partners.

Overseas companies filing
Guidance on preparation and filing of accounts for the UK branch or place of business of an overseas company.

Purchase of own shares in a private limited company
Technical helpsheet offering guidance on the purchase of own shares in a private limited company under the share buy-back regime in the Companies Act 2006.

Reduction of share capital
Technical helpsheet regarding Reduction of share capital under S 641 Companies Act 2006.

Small and micro company size calculator
Technical helpsheet to assist ICAEW members in determining whether a company meets the small or micro entity thresholds under the Companies Act 2006.

Small, medium and large companies thresholds
Technical helpsheet regarding accounting exemption thresholds for small, medium and large companies.

Statement of high net worth
Sample question and answer on whether a member of ICAEW may sign off a statement of high net worth for an individual.

UK company law and financial reporting changes
Technical helpsheet addressing the main changes to UK company law and financial reporting as a result of the implementation of the EU Accounting Directive into UK law.

Unlimited companies
Technical helpsheet regarding the possibility for a company to exist which has no limit to the liability of its members.

Which documents in the annual accounts need a signature?
Technical helpsheet explaining which documents in the original set of annual accounts and reports of companies and LLPs require signatures, as well as explaining the signature requirements for the filing and publication copies.

Legal and regulatory

SRA Accounts Rules
Technical helpsheet issued to help ICAEW members identify appropriate sources of guidance and support when undertaking the role of Reporting Accountant under the Solicitor’s Regulation Authority’s (SRA) Accounts Rules.

Money laundering

Supervision by ICAEW for money laundering
Technical helpsheet on when a firm needs to be supervised by ICAEW for money laundering.

Tax

What help is available from ICAEW for my tax query?
List of resources available to help you with questions on tax.