FRS 102: Your Next Step in UK and Ireland GAAP

Now you understand the theory of new UK and Ireland GAAP, it's time to get into the nuts and bolts of the technical, and really begin to implement these changes.

Perhaps it's time to start thinking about some of the following key areas:

Choosing which framework to adopt
Some aspects of FRS 102 are based on existing UK GAAP, some aspects are based on IFRS and some aspects sit somewhere between the two. Based on your specific accounting needs, do you know which framework will suit your or your client's organisation best?

Understanding how the numbers will change
FRS 102 is a new way of presenting financial information so the key question we need to be asking is; what will the numbers look like?

Adapting to less content
FRS 102 has removed 90% of the regulation leaving a largely principle based system. Have you begun to focus on what policies you need to set up?

The effect on systems and data
Have you been thinking about how to use new reporting regimes to efficiently capture the necessary data to produce a set of accounts under FRS 102 whilst also providing the necessary management and regulatory information?

With our new suite of FRS 102 courses, you can discover which financial framework best suits your organisation and take steps to successfully adopt new UK and Ireland GAAP.