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Tax Insider Tips: Directors’ Loan Accounts And FRS 102 – What’s All The Fuss About?

25th Apr 2017
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The vast majority of owner-managed companies have adopted financial reporting standard (FRS) 102. FRS 102 applies to accounting periods starting after 31 December 2014, although many companies adopted it earlier.

Under FRS 102, the accounting treatment of most items remains broadly the same, but there are some notable differences. Accounting for directors’ loan accounts (DLAs), which is a regular feature for most companies, is one area that requires further consideration.

In the April issue of Tax Insider, Peter Rayney outlines the potential effect of financial reporting standard 102 on loans to company director shareholders.

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>> Directors’ Loan Accounts And FRS 102 – What’s All The Fuss About?

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