The balance sheet is changing... from 2015 the document will be known as the ‘statement of financial position’ (SoFP) following the introduction of a new accounting standard, FRS 102.So why should you care? Well, it’s not just about an accounting standard introducing new terminology, there are changes in the way certain balance sheet items are to be reported. Please read the full article for a summary of the key changes and how they will affect the way your clients report their financial results.
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