UK GAAP for Micro and Small Companies: FRS 105 & FRS 102 1A


The new standards are aimed at small companies and include a new category of company, the "micro-entity".

This course is provided by a third party provider and the fee charged is exclusive of VAT.  Training tickets are not applicable on this product. 

Venue details:  
Online, ,
Start date & time:  
01 January 2019 00:00
End date & time:  
01 January 2022 00:00
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AccountingCPD. net


Product type:  
CPD online course
Financial reporting

There are approximately 3 million companies in the UK that meet the thresholds so these changes are significant to a large number of business owners and their advisors.

The intention of the new requirements is to reduce the financial reporting burden, but you need to start planning your transition to these new standards right away.

This course can help you do just that. It explores the background to the changes, examines the accounting and disclosure requirements and considers the potential wider implications and planning aspects that should ensure a smooth transition.

Course Overview

Overview of new UK GAAP incorporating the micro-entities regime

  • What has caused the changes in financial reporting?
  • What is the new accounting regime for small entities?
  • What is the FRS 105 micro-entity regime?
  • What is the smaller entities regime (FRS 102)?

FRS 105 The micro-entity regime

  • How are financial statements presented in FRS 105?
  • What information should be included at the foot of the balance sheet?
  • How does FRS 105 deal with accounting treatments?
  • If eligible, how does a company decide whether to adopt FRS 105?

FRS 102 Section 1A – the small entities regime

  • What is the key principle in adopting FRS 102?
  • How are the financial statements presented?
  • What are the disclosure requirements?
  • What are the accounting treatments?

Preparing for transition to the new reporting regimes

  • How do I account for the transition to the new regime?
  • How can the main accounting impacts be identified?
  • What systems and controls issues need to be considered?
  • What might be the wider implications of moving to the new regime?