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FRS 102 - Statement of Income and Retained Earnings

Article ID
ias-12415
Article Name
FRS 102 - Statement of Income and Retained Earnings
Created Date
3rd May 2017
Product
IRIS Accounts Production
Problem
How do i produce a single Statment of Income and Retained Earnings under FRS 102
Resolution
FRS 102 6.4 permits the inclusion of a single statement of income and retained earning where the only changes in equity are profit or loss, payments of dividends, corrections of prior periods material errors and changes in accounting policy. A small company is not required to produce such a statement but encouraged to do so. To replace the Profit & Loss and Other Comprehensive Income, shown as the single Statement of Income and Retained earnings within v17.3.0 go to the following: Edit | Data Screens | Profit and Loss Accounts | Options | FRS 102 – Options | Tick the box to present a Statement of Income and Retained Earnings.

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