The Only Constant is Change

The Only Constant is Change.

For UK companies with year ends after 31st December 2016 there are huge changes to the way accounts being presented.

This is because UK accounts are now produced under Financial Reporting Standard 102 (FRS 102) instead of UK General Accepted Accounting Principles. (UK GAAP)

What does this mean.

This means that your year end accounts will look very different and the way we treat some of the items listed in the accounts will be also change.

In addition, the amount of information we must report to Companies house and that which will be made public will increase. This is because the abbreviated accounts we normally file will no longer be valid.

We will be communicating directly with all clients regarding this change as it affects them.

This won’t be the last change to the way accounts are presented as usual in our industry the only constant is change.