Micro or Small… What’s the Difference?

Welcome to our fourth blog in this series.  In our previous blogs, we have highlighted that there are different accounting standards for different size companies, so the accounts will look different.  But what does this actually mean for your accounts?  Remember, companies that qualify as micro have the option of preparing micro accounts, but they… Continue reading Micro or Small… What’s the Difference?

What’s Changing for Small and Medium Companies?

The third in our series of accounting changes blogs focuses on small and medium companies.  A new financial reporting standard has been introduced, called FRS 102, which replaces all the previous UK standards in issue that were applicable to medium sized companies.  The standard takes effect for accounting periods starting from 1 January 2015. The… Continue reading What’s Changing for Small and Medium Companies?

Goodbye Abbreviated Accounts…..

Welcome to the second of our series of blogs on accounting changes.  All companies have to file their accounts at Companies House each year. Micro, small and medium companies have the option of submitting a little, or significantly, less than their full accounts. Currently, small companies have two alternative options, if they don’t want to… Continue reading Goodbye Abbreviated Accounts…..

Times are Changing! (Well, Accounting Standards are Anyway…)

When we prepare a set of accounts for a limited company, one of the first things we do is work out what size the company is.  This will determine how we prepare the accounts, and which set of rules (standards) we will follow.  The general rule is that the smaller the company is, the smaller… Continue reading Times are Changing! (Well, Accounting Standards are Anyway…)