Well not quite. FRS 102 introduced the term 'cash equivalents' through the statement of cash flow. 

The bill includes a number of measures the government has been consulting on as part of the Red Tape Challenge and a recent consultation on insolvency regulation. We very much welcome the majority of the proposals which aim to update existing legislation. Indeed, proposals to simplify reports on director conduct in insolvencies is an area where we have been campaigning for reform for a number of years.

Acquiring a business can be a complex, resource intensive and time consuming process, yet attaining the right business can generate substantial value.

As a financial services business, you may well not need to register for VAT. You may be primarily making exempt supplies, with any 'VATable' supplies falling below the VAT registration threshold.

In general a UK-resident individual is liable to capital gains tax (CGT) on gains that arise on the disposal of any assets, wherever situated, with very limited exceptions. There are special rules, however, for individuals who are resident but not domiciled in the UK. There are also a number of reliefs, including one for private residences.

Is this a new primary statement? Yes…but there is a vague similarity to the old UK GAAP reconciliation of movements in shareholders’ funds.