Micro Entity Reporting – FRS 102 1A or FRS 105?

FRS 105 and Section 1A of FRS 102 replaced the Financial Reporting Standard for Smaller Entities (FRSSE), which was withdrawn from 1 January 2016. Effective for accounting periods beginning on or after 1 January 2016, both FRS 105 and FRS 102 1A are now the go-to reporting standards for micro entities.

However, as micro entities are free to choose whether to adopt FRS 105 or FRS 102 1A, there can be some confusion among advisors as to which standard is actually better for their clients.

Download this guide and discover:

• History of the standards
• Summary of the key differences between the standards
• Compliance obligations under the standards

And more…