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ASM Chartered Accountants demystifies FRS 102

Brian Clerkin and Mi#43BC56
Brian Clerkin, Managing Director at ASM Chartered Accountants, Belfast is pictured with fellow director Michael Nixon
Emma Cowan on September 22, 2014 - 8:05 am in News

Are you up to speed on the new FRS 102 accountancy rules and how they will affect you as a small to medium sized business owner?Do you know when the changes will come into play, what they are and what is expected of you?

If the answer is no, you could be among the hundreds of confused business owners in Northern Ireland who are still unaware of their legal requirements regarding the accountancy reform.

Belfast firm ASM Chartered Accountants is seeking to address the situation head on, and better educate Northern Ireland businesses with their FRS 102 seminar taking place on Wednesday 24th September 2014 at Ramada Plaza, Shaw’s Bridge.

Michael Nixon, Director at ASM Chartered Accountants explained that the event will seek to demystify the changes and prepare business owners for their requirements, he said: “We have organised this seminar in response to many of our clients who still feel a little unsure of the impending changes.”

“What business owners and managers need to realise, first and foremost, is that the new rules represent the biggest change in accounting for small and medium enterprises for many years and they need to be aware of their own requirements and that of their accountant.”

“FRS 102 will replace current UK standards and will apply to most small and medium sized companies. The adoption of FRS 102 will lead to some changes to the format of financial statements and the disclosures required, but for many businesses there will also be changes to the way the numbers are calculated. These may have implications wider than just accounts presentation and may impact on bank covenants.  As such it is important that companies understand at an early stage how the changes will impact on their business.”

The ASM event will seek to give delegates an introduction to FRS 102, explain the changes to financial reporting formats, as well as the changes in accounting treatment and will give advice on practical implementation of FRS 102. The seminar is free of charge and will run from 8.30am to 10.15am on Wednesday 24th September 2014 at Ramada Plaza, Shaw’s Bridge. For further information and registration contact ASM Chartered Accountants and visit www.asmaccountants.com or call .



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