These guidance notes offer constructive advice and assistance to practitioners and external auditors on all aspects of the detailed application and implementation of the Code of Practice on Local Authority Accounting in the United Kingdom 2022/23.The guidance notes are your expert support in dealing practically with the preparation of the year-end financial statements and reports that accompany them.
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This is the online version of the publication. It is also available in hard copy (presented as a loose-leaf update pack for your existing binder). The online, digital version is a PDF that can be downloaded and shared throughout your organisation. Customers will need to register and log in to CIPFA's website to access the publication.
This year's edition of the Guidance Notes provides detailed guidance on the key accounting changes introduced by the Code of Practice on Local Authority Accounting in the United Kingdom 2022/23 (the Code).
The download for this publication has been updated and is now a zip folder containing two PDF files: the Code Guidance Notes 2022/23 and the IFRS 16 Leases guide, 2023 edition.
The key accounting changes in this edition of the Guidance Notes include:
As mentioned, this year the 2022/23 Code Guidance Notes are accompanied by a separate publication providing guidance on IFRS 16 for 2022/23, which is applicable to those authorities deciding to voluntarily implement the requirements of Appendix F (which includes the specifications applicable to those entities implementing IFRS 16 as of 1 April 2022). It will also be of interest to those intending to apply as of 1 April 2023 and those mandatorily implementing as of 1 April 2024.
The publication is important and should be considered at the earliest opportunity because of the prevalence of leasing in local government and the risk that the changes could have a budgetary impact if not managed effectively.
This guidance on IFRS 16 provides comprehensive coverage of the proposed requirements for lessees. Although there have not been significant changes to the requirements for lessors, the guidance also includes extensive commentary on this area.
The guidance covers in particular:
The IFRS 16 guidance publication is available in online format only.
Details of licensing arrangements for other categories of purchaser, which includes those organisations operating shared service arrangements, are available from CIPFA's Publications Department.
Code Of Practice On Local Authority Accounting In The United Kingdom 2022/23 Online
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