Accounting principles for tax purposes (4th ed., London: Bloomsbury Professional, 2010)

Lynne Oats & Paul Tuck, Accounting Principles for Tax Purposes (4th ed., London: Bloomsbury Professional, 2010). 384 pp. ISBN: 978-1-84766-380-1.

Accounting Principles for Tax Purposes is recognised in the tax profession as the bible for non-accounting professionals who have to use accounts in their work. As the overlap between tax and accounting rules continues to grow, it is increasingly important for tax practitioners to have a sound grasp of how the world of accounting works and is changing.
The 4th edition of the book (its first revision since 1998) examines the interface between accounting and tax rules and regulations, and guides readers through the complex maze of accounting principles.

This new edition includes:

  • Newly issued accounting standards under both UK GAAP and IFRS
  • Legislative changes in both income tax and corporation tax that have implications for the relationship between
    accounting and tax profits
  • Review of prospective future developments including the implications of increased alignment of UK GAAP
    and IFRS
  • Commentary on new developments in the international arena
  • Commentary on the significant simplification of the new Companies Act 2006

The book is divided into four parts: Accounting Principles and
Financial Statements; Basic Accounting Issues; Advanced Accounting Issues; Conceptual Developments. Appendices provide a summary of and commentary on main cases.

Table of contents
  1. Introduction
  2. The Legal and Institutional Framework
  3. An Accounting Overview
  4. Financial Statements: Which version of Accounting Standards?
  5. Back to Basics: Accounting Principles
  6. Substance over Form
  7. The Presentational Standards
  8. Post-Balance Sheet Events
  9. Smaller Entities
  10. Related Parties
  1. Cash Flow Statements
  2. Revenue Recognition
  3. Stocks and Work in Progress
  4. Long Term Contracts
  5. Tangible Fixed Assets
  6. Depreciation
  7. Acquiring Assets on Finance
  8. Provisions and Contingencies
  9. Pensions
  10. Employee Share Ownership Plans
  11. Government Grants
  1. Accounting for Tax
  2. Groups
  3. Foreign Currency Translation
  4. Goodwill and Intangible Assets
  5. Research and Development Expenditure
  6. Financial Instruments
  7. Corporate Transactions – The Theory
  8. Corporate Transactions – The Practice
  9. Limited Liability Partnerships
  10. Accounting and Tax Profit – Background and Present Position
  11. Future Developments

Paul Tuck joined the Buckingham Business School in 2005. He lectures in auditing, financial reporting and financial accounting at both undergraduate and postgraduate levels. Prior to joining the University of Buckingham Paul worked in professional accounting practice for more than 20 years.

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