IFRS, FRS 101 and FRS 102 – the new UK GAAP – are now an established part of the everyday language of accountants. In both the UK and Ireland there is keen analysis of the measurement and disclosure differences across all businesses and sectors, both large and small. As we move ever closer to one of the key dates in the Future of UK GAAP calendar – 1 January 2014, the opening balance sheet date – there is ever increasing focus on transition. But the big question on most corporate accountants' lips is which framework to move to.

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