FRS 102: Difference between revisions
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Financial Reporting Standard 102 - "The financial reporting standard applicable in the UK and Republic of Ireland" - applies to larger unlisted companies and to other reporting entities | Financial Reporting Standard 102 - "The financial reporting standard applicable in the UK and Republic of Ireland" - applies to larger unlisted companies and to other reporting entities. | ||
This applies to reporting periods starting on or after 1 January 2015. | |||
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# Use the same accounting language regardless of the size of the reporting entity. | # Use the same accounting language regardless of the size of the reporting entity. | ||
# Retain a proportionate approach to disclosure in order to meet users’ information needs, without imposing undue reporting burdens. | # Retain a proportionate approach to disclosure in order to meet users’ information needs, without imposing undue reporting burdens. | ||
Revision as of 14:46, 17 January 2015
Financial Reporting Standard 102 - "The financial reporting standard applicable in the UK and Republic of Ireland" - applies to larger unlisted companies and to other reporting entities.
This applies to reporting periods starting on or after 1 January 2015.
FRS 102 - in conjunction with FRS 100 and FRS 101 - is designed to:
- Implement an international-based financial accounting framework for all relevant UK and Irish reporting entities and users.
- Use the same accounting language regardless of the size of the reporting entity.
- Retain a proportionate approach to disclosure in order to meet users’ information needs, without imposing undue reporting burdens.
See also
Other links
Filling the GAAP, Stanislav Varkalov, The Treasurer, November 2013
