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Restatement of Opening Balances under IFRS |
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The Department of Health has just issued guidance on restating the opening balance sheet on transition to IFRS. The Department requires that the opening balance sheet as at 1 April 2008 should be restated and collected on FIMS by 31 December 2008
Our initial analysis has identified the following areas of investigation for NHS organisations:
- The identification and accounting for Finance Leases
- The identification of Property, Plant and Equipment
- The removal of Negative Revaluation Reserve balances
- The changes in definition of Intangible Assets
- The possible requirement of Segmental Reporting
Registered users of CARS can find more details in the User Area of the web site including papers outlining the current requirements, changes that may be required to the CARS data and how we at Nuesoft can support you.
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