Are you ready for FRS 115, FRS 116 and FRS 109?

With major changes to accounting standards for Revenue recognition, Financial instruments, and Leases, Companies are looking at significant changes not only to their accounting policies but also their operation models to ensure there are no unexpected surprises.  Changes introduced by these standards will entail enterprise-wide changes to how Companies operate.

Our Solution

  • Review of existing contracts to identify impact under new guidance.
  • Suggestions on accounting treatment and appropriate journal entries in various scenarios.
  • Perform computations for transition adjustments.
  • Prepare excel templates for computation of transition adjustments.
  • Suggestions on disclosures under new standard.
  • Training of finance and other team on the new standard and how it may impact the Company.
Meet our expert Chetan Hans

FRAS Director

Contact now