Comments on: FRS102 Propoals to increase Provisions https://www.creditunionupdate.com/accountancy/frs102-proposals-increase-provisions/ Fri, 19 Jan 2018 21:58:14 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Steven Cunningham https://www.creditunionupdate.com/accountancy/frs102-proposals-increase-provisions/#comment-367 Fri, 11 Nov 2016 14:52:40 +0000 http://www.creditunionupdate.com/blog/?p=877#comment-367 In reply to Kenny MacLeod.

Thanks Kenny. Further clarification from the regulator regarding how to deal with FRS 102 for quarterly and annual returns would be useful. There are a number of points in FRS 102 that complicate matters but do not add anything to the reader of the accounts such as this.

]]> By: Kenny MacLeod https://www.creditunionupdate.com/accountancy/frs102-proposals-increase-provisions/#comment-366 Fri, 11 Nov 2016 14:40:34 +0000 http://www.creditunionupdate.com/blog/?p=877#comment-366 Steven

The trade bodies met with the PRA recently and raised the issue that at 30 Sept 2015 credit unions’ bad debt provisions (and loan books) would rise as a result of FRS 102 requiring the write back of loans which had been provided but which were technically still collectable. My understanding that they are considering how to deal with this.
Regards

Kenny MacLeod

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