we all know about the standards changes coming up and the adjustments needed to adopt the new standards
if we want to adopt micro entity accounts rather than use the frsse and have to make adjustments can we just switch over or are any adjustments / conditions needed?
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Are you talking about micro entity or cash accounting?
Micro entity for me is to tick a box in Iris that files some nonsense at companies house based on accounts I have prepared in the normal way.
Cash accounting on the other hand certainly does have transitional adjustments entering and leaving and some special rules for capital allowances on cars and interest relief for additional fun.
Depending on the contents of the Balance Sheet there could certainly be more to consider than just pressing the relevant button on your account software.
For example, I believe that fixed assets are a key area as they can only be carried at historical cost and so any previous policies of revaluation will need to be corrected.