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For accounting periods commencing on or after 1 January 2015, current UK GAAP has been replaced by a single standard.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 transition
FRS 100 Introduction
The release of FRS 100 heralds the introduction of the new UK GAAP. Companies should start planning for the transition now.
FRS 101 Reduced Disclosure Framework
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.
FRS 102 Overview
Financial Reporting Standard 102 has replaced UK standards for all companies not adopting the FRSSE or IFRS. This is an overview of the key changes.
The release of FRS 100 heralds the introduction of the new UK GAAP. Companies should start planning for the transition now.
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 has replaced UK standards for all companies not adopting the FRSSE or IFRS. This is an overview of the key changes.
FRS 102 Format and Layout
FRS 102 Accounting for Groups
A review of the changes in accounting for groups including associates and joint ventures under the new standard.
FRS 102 Business Combinations
The changes in accounting for acquisitions and mergers, goodwill and other intangible assets under the new standard.
A review of the changes in accounting for groups including associates and joint ventures under the new standard.
The changes in accounting for acquisitions and mergers, goodwill and other intangible assets under the new standard.
FRS 102 Tangible Fixed Assets
FRS 102 Financial Instruments
Review of the changes to accounting for financial instruments under the new standard. This can include basic loans as well as currency contracts and interest swap rates.
FRS 102 Revenue Recognition
Review of the changes to accounting for financial instruments under the new standard. This can include basic loans as well as currency contracts and interest swap rates.
FRS 102 Income Tax
An outline of the changes to both current and deferred taxation accounting under the new standard
FRS 102 Employee Benefits
An overview of the impact on accounting for employee benefits, including holiday pay.
FRS 102 Tax Consequences
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