FRS 102
From ACT Wiki
UK accounting.
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, FRS 101 and FRS 103 - 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
