Four steps to prepare for FRS 102

Author: Jonathan Pryor

Categories: Financial Reporting, Getting advice, Governance, Tax Planning
Tags: FRS 102

Jonathan Pryor, Partner - Assurance & Business Services, Smith & Williamson on Four steps to prepare for FRS 102

I think there’s a combination of things.  The first thing you’ve got to do unfortunately is invest some time in getting to understand what FRS 102 is all about.

And it may be the easiest route is to talk to us and we’ll give you the overview.

You then need to do a more forensic examination to go into individual accounts account codes and understand precisely what the repercussions will be.

Then you’ve got to map out in quite some detail, exactly how you’re going to move from where you are at the moment to where you need to be in the future and then finally you’ll need a process that gives you assurance that you’ve picked everything up and that what you’ve done works.

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