FRS 102 is the financial reporting standard which applies to most UK companies and other reporting entities, including small entities. It is important to make sure that all finance and accounting staff who are involved in preparing their company's financial statements understand what they need to ...
A look at the cash flow statement when transitioning to FRS 102. Current accounting treatment FRS 1 applies to financial statements intended to give a true and fair view, but there are exemptions such as small companies (based on the small companies exemption in companies’ legislation...
Although SFRS for Small Entities are more streamlined and simplified for small and medium enterprises (SME), SMEs should still weigh carefully the cost and benefits of adopting it. There may be retraining costs for the finance staff as well as impact of future growth to be considered. Brief de...