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FRS 105 micro accounting: what entities qualify – part 1

In the first of a two-part series on the FRS 105 micro-entity accounting regime, Anne Cowley ACA, senior technical writer at Croner-i, outlines which entities can qualify and how the rules change a company’s accounts

Since 2013 companies in the UK have been able to prepare micro-entity accounts. However, despite LLPs joining them in 2016, the uptake hasn’t been as high as might be expected. In this article, we look at why this might be, and which entities would qualify.

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