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FRS 12: Provisions, contingent assets and contingent liabilities

Find links to the accounting standard, technical summaries, useful guides and other resources on FRS 12 collated by ICAEW Library & Information Service.

The accounting standard FRS 12 set out the criteria for recognising provisions. It was issued by the Accounting Standards Board September 1998.

This standard and all other old UK GAAP FRSs have been withdrawn for reporting periods starting on or after 1 January 2015. Topics within provisions and contingencies are covered by Section 21 of FRS 102 under new UK GAAP.

How can I get a copy of this standard?

Consolidated standard

There is no free consolidated version of FRS 12 available online.

However, we can provide copies of the consolidated standard, which includes amendments, through the Library's premium databases by email. 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.

Unconsolidated standard and amendments as first issued

FRS 12 was amended by FRS 17: Retirement BenefitsFRS 21: Events After the Balance Sheet Date and FRS 26: Financial Instruments: Recognition and Measure.


Provisions, Contingent Liabilities and Contingent Assets
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.

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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