April 30th in Accountancy News, Business, Economics, KPMG, Pensions by Editor .
KPMG: Accounting rules may = £10bn less profit for companies
As if businesses didn’t have enough to worry about when it came to the bottom line…
There is something else on the radar emerging from accounting regluations. The International Accounting Standard Board yesterday announced changes to the way pension deficits and surpluses are accounted.
Under the proposals, the use of off-balance sheet accounting would be more limited but companies pensions will have a much greater impact on profits. KPMG forecast that it could wipe as much as £10bn a year from the profits of UK businesses. The trade-off for greater clarity.
Nice timing.
