United Kingdom
Cascino, S.
& Correia, M.
(2024).
United Kingdom.
In
Incollingo, A. & Lionzo, A.
(Eds.),
The European Harmonization of National Accounting Rules: The Application of Directive 2013/34/EU in Europe
(pp. 45 - 63).
Springer.
https://doi.org/10.1007/978-3-031-42931-6_3
& Correia, M.
(2024).
United Kingdom.
In
Incollingo, A. & Lionzo, A.
(Eds.),
The European Harmonization of National Accounting Rules: The Application of Directive 2013/34/EU in Europe
(pp. 45 - 63).
Springer.
https://doi.org/10.1007/978-3-031-42931-6_3
This chapter focuses on the adoption of the EU Directive 2013/34 in the United Kingdom by first providing a general overview of the evolution of UK accounting regulation and then by delving deeper into the details of its implementation. The chapter describes the multitier structure of the UK GAAP system paying special attention to the valuation approaches that companies preparing their financial statements under UK GAAP must follow.