Womble - 20 May 2006, 02:55 pm
Now please correct me if I am wrong.........
But as I believe any accounts prepared with a year end date 31st December 2005 or later (for small business's) are required to adopt FRSSE 2005
Those of you who don't know FRSSE means Financial Reporting Standards for Smaller Entities.
Its the same as your FRS's but just for smaller entities.....(below 5.6M t/o ... i think)
Now my understanding of the new standards is the adoption of FRS 25 where Dividends are no longer presented in the P&L a/c but as a note in the accounts.
Firstly I would like to know if this is correct, and if so why. And can you forward any link on the net with back-up to the standard.
And secondly if there are any new additions that we should be aware off.
Always good to stay on top of things.
But as I believe any accounts prepared with a year end date 31st December 2005 or later (for small business's) are required to adopt FRSSE 2005
Those of you who don't know FRSSE means Financial Reporting Standards for Smaller Entities.
Its the same as your FRS's but just for smaller entities.....(below 5.6M t/o ... i think)
Now my understanding of the new standards is the adoption of FRS 25 where Dividends are no longer presented in the P&L a/c but as a note in the accounts.
Firstly I would like to know if this is correct, and if so why. And can you forward any link on the net with back-up to the standard.
And secondly if there are any new additions that we should be aware off.
Always good to stay on top of things.