Financial Reporting Standards

Changes to UK GAAP

For accounting periods commencing on or after 1 January 2015, current UK GAAP has been replaced by a single standard. The transition requires all UK companies’ financial information to be prepared in accordance with FRS 102. The only exceptions will be those applying International Financial Reporting Standards (IFRS) or Financial Reporting Standard for Smaller Entities (FRSSE).

Guiding you through the transition process

Financial Reporting Standard 100

The release of FRS 100 heralds the introduction of the new UK GAAP. Companies should start planning for the transition now.

Financial Reporting Standard 101

Financial Reporting Standard 101 provides a new for format of accounts for individual parent entities and for subsidiaries of groups where the parent prepares consolidated financial statements, under IFRS.

Financial Reporting Standard 102

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