With all the talk about tax and the implications of the transition to New UK GAAP, FRS 101 vs. 102 and so on, the small enterprise can sometimes be overlooked. So a reminder that the new, July 2013 edition, Financial Reporting Standard for Smaller Entities (FRSSE) if effective from January 2015, although earlier adoption is permitted. As well as tax I do accounting institute disciplinary cases. So a reminder also to practising accountants that, as well as the technical side, they need to be aware in advance of the client care issues for the transition to New UK GAAP or New FRSSE.
Eamon McNicholas
Tax Barrister, Accountant
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