We’re VERY close to finalising the content for FRS102.com. FRS102.com is a comprehensive resource developed to simplify the new financial reporting framework for accountants. In the short term FRS102.com will ease the pain of transition and support accountants through the initial implementation period and beyond. We have been working on FRS102.com for the last 6 months and now the time has nearly come to launch. We will be releasing it later this month. Our whole focus in creating and designing this resource center is to simplify FRS102.com. Accountants are extremely busy people. We have invested hundreds of hours reading the standard, digesting the standard, and simplifying the standard, so you don’t have to.
FRS102.com will contain comprehensive practical guides in relation to the new standards. There will be video based tutorials for each individual section of the 35 sections contained in the standard. From my perspective one of the big things for accountants is understanding the differences between the old financial reporting regime and the new financial reporting regime. To cover this off we have created a differences guide for each section of the standard. At a glance what is different from the old regime to the new regime We have transitions guides including simple and complex transition examples and case studies along with a detailed transition checklist to physically bring you through the process and ensure that you do not miss anything. In our transition checklist we have factored in options for smaller simple companies and larger more complex companies We have a suite of sample financial statements and abridged financial statements and disclosure checklists incorporating both the disclosure requirements of FRS 102 and Companies Act 2014. We have letters and documents to assist you communicate with your clients as well as a host of other tools and templates and guides. HOWEVER, we need your help. Before we finalise everything and open up FRS102.com, we need to make sure we are covering the key challenges facing practitioners. This is where you come in. Please take a few minutes to answer this super-short survey – there are really is only one thing we want to ask you…
What are the top two challenges you and your clients face with the transition to FRS 102 and the new financial reporting framework?
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