New Irish GAAP: A quick overview for students

The attached document provides a “conversational knowledge” overview of new Irish GAAP:


Furthermore, as some people may already know, I am a big fan of BDO’s financial reporting material and have attached, for those looking for more detailed information (but still in summarised form!), a BDO document outlining the key differences between IFRS and FRS 102:

BDO IFRS FRS102 Differences



Companies Act 2014 Consolidation Exemption

The 2014 Companies Act is still in it’s infancy but one part that accounting students should be aware of is the section on consolidation exemption for companies preparing accounts under Irish/UK GAAP (FRS):

FRS102 Consol Exemption.JPG

Note that the above consolidation exemption is not available to companies preparing accounts under IFRS although there are separate exemption criteria for IFRS companies outlined in IFRS 10.