Tag Archives: Irish GAAP

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FRS 102 – Interim relief for Treatment of Directors’ Loans

FRS 102 – Interim relief for Treatment of Directors’ Loans by John McCarthy On Monday 8 May 2017, the Financial Reporting Council (FRC) issued a press release on director’s loan reporting for small companies. It has announced that it is withdrawing the requirement to find a market rate of interest where a loan is made… Read More


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FRS 102 – potential transition pitfalls of new Irish GAAP (Part 1)

  In this article, we consider practical tips for applying the requirements of Section 35 of FRS 102. The Financial Reporting Council issued a report called the Annual Review of Corporate Reporting 2015/2016 on 21 October 2016 encouraging smaller entities to ‘start their planning as soon as possible in order to ensure they are prepared… Read More


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Inter-Company and Directors’ Loans and the impact of FRS 102

Groups, stand alone companies and company directors may have, in the past, relied on informal arrangements and verbal agreements. They may now wish, as a result of the rule changes in FRS 102, to introduce more formal documentation to ensure their intentions are reflected in the contractual terms and in the accounting, so as to… Read More



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Nine Key Differences Between Current Irish/UK GAAP and FRS 102

  Nine Key Differences Between Current Irish/UK GAAP and FRS 102 Introduction   The article examines the more common areas of difference between the existing Irish/UK GAAP i.e. the existing FRSs/SSAPs and UITF (Urgent Issues Task Force) pronouncements and new Irish GAAP. The new Irish/UK GAAP is called FRS 102 and it comes into force… Read More