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States of Jersey Accounting Standards - Financial Statements 2014

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A decision made 11 May 2015:

Decision Reference:  MD-TR-2015-0056

Decision Summary Title:

States of Jersey Accounting Standards

Date of Decision Summary:

07 May 2015

Decision Summary Author:

Financial Accountant

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Accounting standards to be adopted for the States of Jersey’s Annual Financial Statement 2014 Updated

Date of Written Report:

07 May 2015

Written Report Author:

Financial Accountant

Written Report :

Public or Exempt?

Public

Subject:

States of Jersey Accounting Standards.

Decision(s):

The Minister decided:

  • to adopt a new version of the Jersey Financial Reporting Manual (JFReM), which sets the GAAP-based accounting standards to be adopted in the preparation of the States of Jersey Financial Statements 2014.
  • to adopt the Accounting Standards Policy (Appendix 1 in the attached report).
  • to present the JFReM to the States.

Reason(s) for Decision: 

Following the Accounting Standards policy set in MD-2014-0146, the JFReM has been updated to clarify points regarding the presentation of consolidated and separate financial statements and the treatment of subsidiary companies.

Resource Implications:

None.

Action required:

The Greffier of the States to be requested to arrange for the JFReM to be presented to the States for their information at the earliest opportunity.

Signature:

 

 

Position: Senator  A J H Maclean, Minister for Treasury and Resources

 

               

Date Signed:

Date of Decision:

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