SCR Financial Reporting

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The SCR online company reporting manual contains a company accounts checklist, specimen small company accounts, a companies act guide, and accounting standards summary and an auditing statements summary. Subscribers can download documents on demand throughout their subscription.

The updates and bulletin are generally published at the end of March, June, September and December each year and are sent to subscribers by the end of the following month.


New subscribers to small company reporting receive two loose leaf binders containing the following:

Parts 1 to 3 - accounts checklists

The company accounts checklist is organised in three parts. For a typical small company it will only be necessary to complete part 1. Part 2 of the checklist covers medium-sized and large companies, and can also be used where a company is not taking advantage of the special exemptions available to small companies under the Companies Act. Part 3 consists of supplementary schedules which may be used with either part 1 or part 2. Parts 1 and 2 include an application checklist which enables users to determine which sections on part 3 should be completed.

Part 4 - specimen company accounts

The specimen annual accounts illustrate compliance with the disclosure requirements of the checklist by a small company. Three separate sets of financial statements are included:

    annual (statutory) accounts of small company making use of the small companies regime under the Companies Act 2006, and the Financial Reporting Standard for Smaller Entities;

    annual (statutory) accounts of a small company not making use of the special exemptions and required to make disclosures under FRS 3 for discontinued activities, historic cost profits, and exceptional items, and under FRS 4 for non-equity shares;

    abbreviated accounts based on the annual accounts above;

    dormant company accounts.

Part 5 - companies act guide

Part 5 is a guide to the key accounting requirements of companies legislation including company administration and meetings, the elective regime, accounting records, annual accounts, exemptions, accounting principles and rules, and revising defective accounts.

Part 6 - accounting standards summary

The accounting standards summary containing succinct summaries of the key features of the statements issued and adopted by the Accounting Standards Board, including FRS, SSAPs, UITF pronouncements, FREDs, and EDs, with notes on application by small firms.

Part 7 - auditing statements summary

This section contains a synopsis of current and proposed auditing standards, guidelines, practice notes and bulletins, highlighting:

    points of relevance to the small audit; and

    recent and proposed changes.

Part 8 - common pitfalls checklist

This checklist is designed as an aide memoire to help identify common pitfalls in preparing the accounts of small companies. It does not therefore list all of the disclosure requirements and only outlines the information to be shown. It should therefore only be used to review the accounts of a typical small company, as a supplementary backup or where a full checklist has been prepared in prior years.

Part 9 - quarterly bulletin

This section is used for filing the bulletin which includes articles on accounting, auditing, and company law matters affecting smaller companies. The regular features include "notebook" on recent developments and "points arising" with suggested solutions to common problems. Each edition of the bulletin contains updating instructions.

Subscribe to SCR Financial Reporting for £100.00 + VAT per year