Split And Polish: Surveying Half-Yearly Financial Reporting

1. EXECUTIVE SUMMARY

2012 is a big year for the UK, with the Diamond Jubilee, the Olympic and Paralympic Games and the continuing economic challenges. For preparers of half-yearly financial statements, it should be a relatively quiet year with only one amended accounting standard to admire and to implement. Flurries of activity from government, regulators and standard setters may result in further amendments to consider. But, for the moment, the forecast is fair. So, after devoting some time to those big 2012 stories, the theme in reporting will be polishing previous periods' precedents to produce perfect, or at least perfectly acceptable, publications. Unlike that sentence, some things are easier said than done. The third finding requires a little more explanation.