It has been wholly rewritten to take account of the radical legal and accounting changes resulting from the application of the UK's International Accounting Standards (IAS) and new UK Generally Accepted Accounting Principles (GAAS). The book offers comprehensive coverage of: IAS 32/39 and FRS 25/26, loan relationships under IAS, impairment losses and connected company rules, the new derivative contracts rules, bifurcation of convertibles, domestic and international transfer pricing, the disregard rules on tax hedging, matching and functional currencies, reconstructions and mergers, repos and stock lending, and anti-avoidance rules. Particular emphasis is placed on providing worked examples and planning guidance.

Hide more