Abridged accounts: Difference between revisions
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Abridged accounts (or abbreviated accounts) are accounts which contain less information than full accounts. | Abridged accounts (or abbreviated accounts) are accounts which contain less information than full accounts. | ||
Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. | Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations. | ||
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* [[Companies House]] | * [[Companies House]] | ||
* [[Mid-sized companies]] | * [[Mid-sized companies]] | ||
* [[FRS 102]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
Latest revision as of 09:57, 28 February 2018
Abridged accounts (or abbreviated accounts) are accounts which contain less information than full accounts.
Most financial reporting systems allow smaller and medium-sized organisations to report limited financial information in this way for some purposes, in order to reduce the administrative burdens on them. For example, UK company law allows smaller entities to report less information for the public record at Companies House, compared with larger organisations.
However, fuller-form and more detailed accounts are normally still required for other purposes. For example, for most tax purposes and for reporting to shareholders.
