New UK GAAP

New UK GAAP

For accounting periods commencing on or after 1 January 2015 there will be a new single Financial Reporting Standard, FRS 102, which will replace all current UK accounting standards. FRS 102 affects all small- and medium-sized entities which currently prepare accounts under UK GAAP. For all entities affected, the opening balance sheet will need to be restated to comply with the new standard and this Read more…