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In the Autumn 2014 release (11.6) IRIS introduced the ability to create
accounts under the new financial reporting standards FRS 101 & 102
including the option for early adoption.
The Spring 2015 release sees the second phase of the New UK GAAP changes
with the introduction of full automated iXBRL tagging of FRS 101 and 102
Limited Company accounts.
Following an update to the Statement of Recommended Practice (SORP)
for Charities and Limited Liability Partnerships the Spring 2015 release
v11.7 also includes the ability to produce FRS 102 and FRSSE (2015) compliant
accounts for both, including early adoption (for LLPs).
The new taxonomies from FRC specifically
for Charities are still in draft, these will therefore be included
in a future release of IRIS Accountancy Suite once they are finalised
and released to us. This release does not yet include Academies which
is not required until August 2015, depending on Academies direction
and when they release the updated legislation changes.
For additional information, click here.
For early adoption of FRS101 and FRS102 for periods beginning before 1 January 2015, click here.
To visit the Financial Reporting Council Website, click here.
IRIS strongly recommend attending our series of FRS seminars – click on the following link for further details: New FRS 101 & 102 training courses.