Financial Reporting

Over the last 10 years we have seen the biggest changes in financial reporting standards for 40 years. WENTWORTH will ensure you stay ahead of standard-setting developments like this. We can help you understand the implications of accounting changes and the wider challenges of adopting the new reporting standards. Our in-house financial reporting specialists are always on hand to provide you with expert accounting advice.

We can assist with;

Planning the transition to FRS
Fair value measurement
Disclosure requirements
Transitional options
Impact on reporting
Taxation implications
Commercial impacts
Systems reviews

The new FRS regime is made up of the following standards:

Application of Financial Reporting Requirements
Reduced Disclosure Framework
The Financial Reporting Standard

A number of choices are open to Irish and UK entities who currently apply the outgoing standards, the choice you take will depend on your size, complexity and structure of your company. The conversion options available are

FRS 101
FRS 102

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