FRS 102 centre
Financial Reporting Standard 102 (FRS 102)
FRS 102 brings important changes to UK GAAP (Generally Accepted Accountancy Principles). There are significant commercial, accounting and taxation implications that need thinking about and acting upon now. The impact can be wide ranging for some companies, including, for example, the need to renegotiate banking covenants so they are not breached. Early planning is therefore essential.
The new standard applies to medium and large companies from 1 January 2015 and small companies will come within its scope from 1 January 2016. Hawsons are helping companies prepare for the significant changes which arise on first implementation of FRS 102 and we look forward to helping you understand how FRS 102 will impact your company, regardless of its size.
The precise impact of FRS 102 will differ from one company to another.
For some, the impact could be minimal but for many others the devil will be in the detail.
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To find out more about how one of the leading firms of accountants in Sheffield, Doncaster and Northampton can help you, please contact one of our specialists. We believe in long-term client relationships and understand the importance of meeting to establish that you like us and we like you. This is why we offer all new clients a free initial meeting which will enable you to have a discussion about you and your business issues.