FRS 100: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Added more space) |
imported>Doug Williamson No edit summary |
||
| (8 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
''UK accounting.'' | ''UK and Irish accounting.'' | ||
Financial Reporting Standard 100, deals with the application of Financial Reporting Requirements for companies and other reporting entities in the UK and the Republic of Ireland | Financial Reporting Standard 100, which deals with the application of Financial Reporting Requirements for companies and other reporting entities in the UK and the Republic of Ireland. | ||
| Line 10: | Line 8: | ||
It gives many entities a choice of detailed accounting requirements depending on factors such as: | It gives many entities a choice of detailed accounting requirements depending on factors such as: | ||
(i) Their size. | (i) Their size. <br> | ||
(ii) Whether or not they are part of a publicly listed group. | (ii) Whether or not they are part of a publicly listed group. | ||
FRS 100 does not require any entities to apply international accounting standards that were not already required to do so. | FRS 100 does not require any entities to apply international accounting standards that were not already required to do so. | ||
FRS 100 - in conjunction with FRS 101 and FRS | FRS 100 - in conjunction with FRS 101, FRS 102, FRS 103, FRS 104 and FRS 105 - is designed to: | ||
#Implement an international-based financial accounting framework for all relevant UK and Irish reporting entities. | #Implement an international-based financial accounting framework for all relevant UK and Irish reporting entities. | ||
#Use consistent accounting language, regardless of the size of the reporting entity. | #Use consistent accounting language, regardless of the size of the reporting entity. | ||
#Retain a proportionate approach to disclosure: to meet users’ information needs, without imposing excessive reporting burdens. | #Retain a proportionate approach to disclosure: to meet users’ information needs, without imposing excessive reporting burdens. | ||
==See also== | ==See also== | ||
* [[FRS 101]] | * [[FRS 101]] | ||
* [[FRS 102]] | * [[FRS 102]] | ||
* [[FRS 103]] | |||
* [[FRS 104]] | |||
* [[FRS 105]] | |||
==External link== | |||
* [https://www.iasplus.com/en-gb/standards/uk-gaap/frs100 FRS 100 - UK Accounting Plus] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 15:52, 3 March 2022
UK and Irish accounting.
Financial Reporting Standard 100, which deals with the application of Financial Reporting Requirements for companies and other reporting entities in the UK and the Republic of Ireland.
FRS 100 sets out overall financial reporting requirements.
It gives many entities a choice of detailed accounting requirements depending on factors such as:
(i) Their size.
(ii) Whether or not they are part of a publicly listed group.
FRS 100 does not require any entities to apply international accounting standards that were not already required to do so.
FRS 100 - in conjunction with FRS 101, FRS 102, FRS 103, FRS 104 and FRS 105 - is designed to:
- Implement an international-based financial accounting framework for all relevant UK and Irish reporting entities.
- Use consistent accounting language, regardless of the size of the reporting entity.
- Retain a proportionate approach to disclosure: to meet users’ information needs, without imposing excessive reporting burdens.
See also
