Mind the GAAP: What brokers need to know
Rochelle Duffy of PKF Littlejohn explains how accounting changes could affect brokers.
Here's the lowdown on how changes to accounting practices could affect the broking business.
What is UK GAAP?UK GAAP, or UK Generally Accepted Accounting Practice, is the overall framework that applies to the majority of UK companies. UK GAAP includes the accounting standards and application guidance on how to account for, and disclose, items within a company's financial statements.
What is changing?The current version of UK GAAP, which has been applied for many years, is changing. It is
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