With the mandatorily effective date of accounting periods commencing on or after 1 January 2015 fast approaching, Steve Collings considers some of the most common questions asked relating to FRS 102 and the impact it is going to have on client's figures. Q. I have been told that there is not much difference between current UK GAAP and FRS 102 so why do we have to check the client's accounting policies? A. In the majority of cases there is little difference between current UK GAAP and FRS 102.
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