FRS 101: Difference between revisions
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Qualifying entities for this purpose are members of groups where: | Qualifying entities for this purpose are members of groups where: | ||
(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 <br> | ||
(ii) The qualifying entity is included in the consolidation prepared by the parent company. | (ii) The qualifying entity is included in the consolidation prepared by the parent company. | ||
Revision as of 14:20, 11 May 2016
UK and 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.
