The end of FRSSE here comes FRS102 and FRS105 Reply

junge frau lernt für eine prüfung

The Financial Reporting Council issued amendments (27th July 2015) to the UK accounting standards, ushering in a new financial reporting framework for small and micro-entities. The changes are mainly as a result of the new EU Accounting Directive.

The key changes are:

  • FRSSE has been withdrawn
  • FRS102 – A new section has been added to FRS102 with disclosure requirements for Small Companies
  • FRS105 will be the new reporting standard for Micro-Entities

The changes come into effect from 1st January 2016.

This is a big change, are you ready for it?

steve@bicknells.net