Accounting For Retailers – An Industry Guide Under FRS 102 by Kevin McSharry

Published by Chartered Accountants Ireland Accounting For Retailers – An Industry Guide Under FRS 102 by Kevin McSharry is a must-have guide for accountants working in the retail sector, as well as general practitioners with retail clients. This book also introduces the changes in accounting for this sector that are required for the important new standard, FRS 102.

This means changes in accounting for most Irish and UK companies, impacting on private companies when preparing their year-end accounts from 2014 (irrespective of whether they are audited or not).

This is a step-by-step guide, offering practical advice on implementing the mandatory requirements of FRS 102 by explaining and simplifying accounting transactions with particular emphasis on retail sector scenarios.

Accounting for Retailers summarises some of the complex accounting areas that are specific to the retail sector, and provides a simple and easy-to-follow guide to the changes brought about by FRS 102.

FRS 102 changes not only the format of, and disclosures in, financial statements but also:
– the criteria for recognition of some assets and liabilities;
– the measurement basis of some items; and
– the treatment of some gains and losses.

Accounting for Retailers also includes illustrative financial statements under FRS 102, as well as illustrative accounting policies and financial statement disclosures.

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Accounting For Retailers - An Industry Guide Under FRS 102 by Kevin McSharry