# The Friendly Societies (Accounts and Related Provisions) Regulations 1994, Regulation 10A: Accounts to have regard to substance of a transaction


The management committee of a society shall, in determining how amounts are presented within items in the income and expenditure account and balance sheet, have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.

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Source: https://www.legislation.gov.uk/uksi/1994/1983/regulation/10A (the official version)
Page: https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994/regulation-10A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.