FRS 101: Difference between revisions
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imported>Doug Williamson (Added category header for page standardisation) |
imported>Doug Williamson (Standardise page presentation, and add references in header to Irish accounting and at foot to parent company.) |
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''UK accounting.'' | ''UK Irish accounting.'' | ||
Financial Reporting Standard 101, dealing with the Reduced Disclosure Framework for financial reporting in the UK and the Republic of Ireland. | Financial Reporting Standard 101, dealing with the Reduced Disclosure Framework for financial reporting in the UK and the Republic of Ireland. | ||
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FRS 101 applies to companies which are members of larger public groups. | FRS 101 applies to companies which are members of larger public groups. | ||
FRS 101 sets out reduced disclosure requirements (within the framework of IFRS) for | FRS 101 sets out reduced disclosure requirements (within the framework of IFRS) for 'qualifying entities'. | ||
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(i) The parent of the group prepares publicly available consolidated financial statements; and | (i) The parent of the group prepares publicly available consolidated financial statements; and | ||
(ii) The qualifying entity is included in the consolidation. | (ii) The qualifying entity is included in the consolidation prepared by the parent company. | ||
Revision as of 08:56, 18 January 2015
UK Irish accounting.
Financial Reporting Standard 101, dealing with the Reduced Disclosure Framework for financial reporting in the UK and the Republic of Ireland.
This applies to reporting periods starting on or after 1 January 2015.
FRS 101 applies to companies which are members of larger public groups.
FRS 101 sets out reduced disclosure requirements (within the framework of IFRS) for 'qualifying entities'.
Qualifying entities for this purpose are members of groups where:
(i) The parent of the group prepares publicly available consolidated financial statements; and
(ii) The qualifying entity is included in the consolidation prepared by the parent company.
