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Accrued holidays to go on balance sheets Accounting [Bristol Evening Post (England)](Bristol Evening Post (England) Via Acquire Media NewsEdge) ? FIRMS which allow workers to carry over holiday will have to put it on their balance sheet from next year. That's just one of a host of changes to accounting standards that will affect most businesses which were outlined by Grant Thornton's new managing partner at an event for finance directors. Tim Lincoln, pictured, said the snappily titled FRS102 standards were a "once in a generation change" to how the books were done. He said businesses needed to be aware as it could have an affect on how healthy their balance sheet looks. Among the changes are that investments such as properties or shares will be part of the profit and loss accounts, not just reserves, which means a firm's profits could take a hit without any real change in how the business is performing. And accrued holiday has to be accounted for too, causing extra complications if a firm's holiday and accounting years don't match. He said: "Talk to your investors to make sure they understand it doesn't change the health of your business." (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |