UK GAAP for Micro and Small Companies: FRS 105 & FRS 102 1A

by Lisa Weaver

This course will help you to understand the new accounting regime for small and micro entities. Examining the accounting and disclosure requirements and considering the potential wider implications and planning aspects that should ensure a smooth transition.

This course is not currently available

This course will enable you to

  • Understand the new accounting regime for small and micro entities
  • See how financial statements should be presented under the new regimes
  • Develop a plan for the transition to this new way of reporting
  • Minimise the impact and associated costs of making the transition

About the course

In 2016 we saw significant changes in financial reporting for the smallest companies as new and revised Financial Reporting Standards come into force. The new standards are aimed at small companies and include a new category of company, the "micro-entity". There are approximately 3 million companies in the UK that meet the thresholds so these changes are significant to a large number of business owners and their advisors.

The intention of the new requirements is to reduce the financial reporting burden, but you need to start planning your transition to these new standards right away.

This course can help you do just that. It explores the background to the changes, examines the accounting and disclosure requirements and considers the potential wider implications and planning aspects that should ensure a smooth transition.

Look inside

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Contents

How it works

Author

Lisa Weaver

After qualifying (ICAEW), Lisa spent several years in audit practice with Deloitte and was part of the national audit training faculty at KPMG. Since leaving practice, Lisa has worked in a variety of education-focused roles, including executive education and has maintained strong links with the accountancy professional bodies.

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This course is not currently available. To find out more, please get in touch.