The new accounting standards outlined in FRS 102 will impact your business and it is vital that you are aware of these impacts. These impacts will affect the profit and loss and balance sheet of your company, reporting profits and  balance sheet positions may change and you need to be aware of these changes. Under the new GAAP there will be changes in the areas of:

• Fair value movements (through the profit and loss account);
• Goodwill and intangibles;
• Business combinations;
• Leases;
• Deferred tax;
• Financial instruments;
• Foreign currency.

Is your company ready to implement the new GAAP?

For further information on the new GAAP process please contact our audit service director Will Townsend (wtownsend@cooneycarey.ie) on 01 677 9000.