Accounting Principles for Lawyers

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Cambridge University Press, Feb 2, 2006 - Law
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Many lawyers, especially those dealing with commercial matters, need to understand accounting yet feel on shaky ground in the area. This book is written specifically for them. It breaks down and makes clear basic concepts (such as the difference between profit and cash flow), the accounting profession and the legal and regulatory framework within which accounting operates. The relevant provisions of the Companies Act 1985 are discussed at some length. Holgate explains generally accepted accounting principles in the UK (GAAP), the trend towards global harmonisation and the role of international accounting standards. He then deals with specific areas such as group accounts, acquisitions, tax, leases, pensions, financial instruments, and realised profits, focusing in each case on those aspects that are likely to confront lawyers in their work. This book will appeal to the general practitioner as well as to lawyers working in corporate, commercial, and tax law.
 

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Contents

The accounting environment
3
2UKGAAP and international harmonisation
12
The legal framework for accounting
22
Substance over form
48
Communicating accounting information
64
Some specifics
77
Mergers and acquisitions
91
Interaction of accounting with tax
110
Liabilities
122
Leases
128
Pensions
138
Financial instruments including capital instruments
144
Realised and distributable profits
160
Disclosures in published accounts
174
Use of financial information in contracts and agreements
185
Index
201

Assets
117

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Page 1 - SIC 25 Income Taxes — Changes in the Tax Status of an Enterprise or its Shareholders SIC 26 Not Issued SIC 27 Evaluating the Substance of Transactions in the Legal Form of a Lease SIC 28 Business Combinations — "Date of Exchange...

About the author (2006)

Peter Holgate is Senior Accounting Technical Partner at PricewaterhouseCoopers in the UK.

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