The pace of development in financial reporting has accelerated sharply during the last few years and shows no sign of abating as the UK prepares to comply with International Accounting Standards. This text seeks to give accounting professionals an understanding of UK accounting standards and demonstrate how standards are used in practice. This text is the perfect companion for those who need to keep abreast of changes to accounting standards or those who need to see how the standards are applied in practice. Accounting Standards includes: * Summaries outlining the principles behind UK accounting standards * Examples and extracts from well-known recent company accounts * Companion website is updated as new standards are introduced