You, your organisation and your clients need to prepare for a fundamental change in the way financial results are reported. From 1 January 2015, companies who do not already follow International Financial Reporting Standards (IFRS) or Financial Reporting Standard for Smaller Entities (FRSSE), will be required to comply with new FRSs. These new standards, in particular FRS 102, will effectively replace the existing UK and RoI Generally Accepted Accounting Practice (GAAP).
On completion of this online course, you will gain an understanding of:
- the background and history behind the decision to adopt the new regime
- the new FRSs, and their main principles and requirements
- the key dates and transition implications are
- what disclosures are necessary in the first FRS102 statements