FRS 101 and FRS 102: Difference between pages
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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 with effect from 2015. | |||
FRS 102 - in conjunction with FRS 100 and FRS 101 - is designed to: | |||
1. Implement an international-based financial accounting framework for all relevant UK and Irish reporting entities and users. | |||
2. Use the same accounting language regardless of the size of the reporting entity. | |||
3. Retain a proportionate approach to disclosure in order to meet users’ information needs, without imposing undue reporting burdens. | |||
All other UK GAAP is withdrawn and replaced with effect from 2015. | |||
==See also== | ==See also== | ||
* [[FRS 100]] | * [[FRS 100]] | ||
* [[FRS | * [[FRS 101]] | ||
* [[ | * [[UK GAAP]] | ||
[[Category:Accounting_and_Reporting]] | |||
[[Category: | |||
Revision as of 14:18, 5 November 2013
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 with effect from 2015.
FRS 102 - in conjunction with FRS 100 and FRS 101 - is designed to:
1. Implement an international-based financial accounting framework for all relevant UK and Irish reporting entities and users.
2. Use the same accounting language regardless of the size of the reporting entity.
3. Retain a proportionate approach to disclosure in order to meet users’ information needs, without imposing undue reporting burdens.
All other UK GAAP is withdrawn and replaced with effect from 2015.
