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FRS 3: Reporting financial performance

The accounting standard FRS 3 required entities to highlight specified components of financial performance in their reporting. Topics within reporting financial performance are covered by Section 5, Section 6 and Section 10 of FRS 102 under new UK GAAP.

New UK GAAP

This standard and all other old UK GAAP FRSs have been withdrawn for reporting periods starting on or after 1 January 2015.

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Full-text standard

Financial Reporting Standard 3: Reporting Financial Performance
This is the full text of the standard as issued by the Accounting Standards Board in October 1992. It does not include the amendments made in June 1993, June 1999 and July 2007. The amendments made by FRS 22 and FRS 25 are also not included.

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

Amendment to Financial Reporting Standard 3: Reporting Financial Performance
Amendment issued by the ASB in July 2007.

Amendment to FRS 3 Reporting Financial Performance: Insurance Companies – June 1999
Amendment issued by the ASB in June 1999.

Amendment (1993)
In the annual accounting standards volume Accounting Standards 1995/96, FRS 3 was reprinted, as ‘amended 1993’, to include a new paragraph (31A) on insurance business.

FRS 3 has also been amended by FRS 22: Earnings Per Share and FRS 25: Financial Instruments: Disclosure and Presentation.

Summaries

Reporting Financial Performance
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.

FRS 3 Reporting Financial Performance
Memorandum of comment (ICAEW REP 32/07) submitted in April 2007 by the ICAEW in response to the exposure draft of proposed amendments to FRS 3 published by the ASB in March 2007.

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 to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

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

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