Substance over form
There has been some speculation as to whether - under the Financial Services Authority client accoun...
There has been some speculation as to whether - under the Financial Services Authority client account rules (non-statutory and statutory trusts accounts) - there is still a need to include insurance debtor and creditor balances within your balance sheet.
When considering this subject, the reference point for guidance is Reporting the substance of transactions (FRS5). This standard requires an entity's financial statements to report the substance of the transactions into which it has entered.
The
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