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FRS 2: Accounting for subsidiary undertakings

The accounting standard FRS 2 sets out the conditions relating to parent undertakings and the preparation of consolidated financial statements for subsidiaries. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

What's on this page?

  • Full-text standard
  • Summaries
  • ICAEW guidance and support
  • FRC news
  • Online articles
  • Articles and books from the Library

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Full-text standard

Financial Reporting Standard 2: Accounting for Subsidiary Undertakings
This is the full text of the original standard as issued by the Accounting Standards Board in July 1992. It does not include the amendments made in December 2004 and June 2009.

A consolidated version of the standard which includes these amendments is available from the Library. Please contact us by phone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com for more information.

Amendments

Amendments to FRS 2, FRS 6 and FRS 28: Legal Changes
Amendment issued by the ASB in June 2009.

Amendment to Financial Reporting Standard 2 Accounting for Subsidiary Undertakings: Legal Changes – December 2004
Amendment issued by the ASB in December 2004.

Summaries

Accounting for Subsidiary Undertakings
Summary published by the Financial Reporting Council.

ICAEW guidance and support

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

FRC news

ASB issues Amendments to Financial Reporting Standard for Companies Act Changes
Press notice published by the ASB on 18 June 2009.

Relevant Financial Reporting Review Panel findings

Findings of the Financial Reporting Review Panel in respect of the accounts of Liberty International PLC for the period ended 31 December 2000
Press release issued by the FRRP on 26 February 2002.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

New UK GAAP

Subsidiary undertakings are covered by Section 9 of FRS 102.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com.

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