The long-awaited Companies (Accounting) Bill to transpose the EU Accounting Directive (Directive 2013/34/EU) has been published on 5 August 2016.
The Bill proposes to introduce a small companies regime and a micro companies regime which, when enacted, will allow for the use in Ireland of Section 1A of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland by small companies and FRS 105 The Financial Reporting Standard applicable to the Micro-entites Regime by micro companies.
Non-listed companies have been primarily using full FRS 102 since its introduction for accounting years commencing 1 January 2015 onwards and this had meant additional disclosure for micro entities and smaller companies.
This bill looks to avoid this extra work required in preparing financial statements for Read more
Let’s take a look at 5 top things successful business leaders will undertake at the start of each year:
It is crucial to take a step back and look at the direction your business is going, ask yourself if this is the right direction. Once you are happy with the direction, the next step is to communicate this direction to your team and put in place procedures to ensure they can implement it effectivity.
Leaders must ask themselves challenging questions to ensure they have created the right culture within the organisation – do your team know what is expected of them, do your team have the right tools, equipment and materials to do their work well, are the systems in place allowing your team to perform at their best, do your team know what they are doing well and want needs improving.
Again, leader must ask themselves challenging questions to improve their own performance – do the same issues keep coming up again and again, am I responding with emotion or empathy and analytical consideration, what drives me to act as I do, what motivates me, as a leader.
As leader you should listen in an open, responsive and thoughtful fashion, stay calm while you are listening and be as specific as possible when looking for feedback.
This takes courage. Leaders must show their emotional honesty, accept their shortcomings, make mistakes and allow others to see them in their vulnerable moments, talk openly about failures and take accountability for them.
We are happy to help. Please post your comment below or call Nigel Mayberry, Director of Audit Services at Cooney Carey, on 01 677 9000.
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The year end is upon us!! While year end accounts is the last thing on most people’s minds at this time of year, it can be a good time to carry out some tasks which will help you to be more prepared for your accountant.
If, like most companies, you have a year end of 31st December, the following simple tasks can help to make the process smoother;
We are happy to help. Please post your comment below or contact Michael O’Halloran on 01 677 9000 or firstname.lastname@example.org.
To keep in touch, connect with us on LinkedIn.