FRS102 Corporation tax overview This is a useful guide to help companies who are considering or have already implemented FRS102. It provides an overview of the key accounting changes from UK GAAP to FRS102. Read it here
FRS102 Guide to disclosures - for subsidiaries Where the company is a subsidiary - and not included in any consolidated accounts – no disclosures are required in respect of its parent (unless required to show a true and fair view). Where the company’s results are included in consolidated accounts then all that is required is the name of the parent of the smallest group for which consolidated financial statements are drawn up and its registered office (if it is unincorporated, its principal place of business is required).
HTTPS How secure is your website? It is worth knowing that Google is favouring websites that show they have gone through further security measures and display as https:// and not the standard http://
It is especially important if you collect data through your website as visitors will be warned that your site isn't as secure as it could be - all related to the new GDPR rulings.
In a time of increased security risk, it is well worth talking to your IT people to make sure your client data is secure and also to make sure your Google rankings don't suffer.
CLIENTS' MONEY New regulations and definitions
ICAEW’s Clients' Money Regulations apply to all offices of firms in the UK and Ireland. Every principal will be responsible for any breach. it defines clients' money as money of any currency (whether in the form of cash, cheque, draft or electronic transfer):
which a firm holds or receives for or from a client, including money held by a firm as stakeholder, and
which is not immediately due and payable on demand to the firm for its own account.
The regulations require clients' money to be held in the currency in which it was received unless the client instructs otherwise in writing. Read the full article here on the ICAEW site
