5 key facts about FRS 101 and 102
International Financial Reporting Standards (IFRS) are designed to be a common global ‘language’ for business. They are progressively replacing the many different national accounting standards and this guide outlines IFRS and what it could mean for you.
The guide includes:
- What are FRS 101 and 102?
- Why are these standards being introduced?
- Who will be affected?
- When does the change-over to FRS 101 and FRS 102 take place?
- How will these changes affect the software that accountants use in preparing accounts and returns?