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New UK GAAP factsheets

The Financial Reporting faculty's new UK GAAP factsheets provide an analysis of changes in the new UK regime, effective from 1 January 2015.

UK GAAP factsheets

Looking for factsheets on standards effective before 1 January 2015?

View previous UK GAAP factsheets now

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FRS 102 Deferred Tax factsheet

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This factsheet provides an overview of the accounting and disclosure requirements for deferred tax in accordance with FRS 102 in response to some frequently asked questions about this challenging topic. Published 15 November 2017.

2017 UK GAAP Accounts

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This factsheet highlights the new and modified UK GAAP requirements that are mandatory for accounting periods beginning in 2017. It also considers some of the practical implementation issues which have arisen as a consequence of the new regime. Published June 2017.

2016 UK GAAP Accounts

This factsheet highlights the new and modified UK GAAP requirements that are mandatory for accounting periods beginning in 2016. Updated August 2017.

Reduced Disclosure Framework

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This factsheet is designed to assist those adopting FRS 101 Reduced Disclosure Framework, which is available to ‘qualifying entities’ that otherwise apply the recognition, measurement and disclosure requirements of EU-adopted IFRSs when preparing their individual financial statements. Updated August 2017.

The UK Financial Reporting Regime

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This factsheet provides an overview of the UK financial reporting regime that came in to effect on the 1 January 2015, with further changes for small and micro-entities for 2016. Published 18 January 2017.

FRS 102 - Financial Instruments

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FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland includes requirements in relation to financial instruments that are significantly different from those under old UK GAAP. This factsheet provides a summary of what has proven to be one of the biggest challenges for many entities applying FRS 102 for the first time. Date published: 17 December 2014. Last updated 13 December 2016

An introduction to FRS 102

This factsheet provides an overview of IFRS 102 The Financial Reporting Standard application in the UK and Republic of Ireland, the standard that forms the cornerstone of the new UK financial reporting regime that became effective from 1 January 2015. Date published: 4 April 2016. Last updated 27 February 2017.

From FRSSE to FRS 102

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This factsheet is designed to assist small entities that have previously adopted the FRSSE to transition to FRS 102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland. Date published: 19 April 2016.

Micro-Entities' Accounts: Moving to FRS 105

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This factsheet is designed to provide an overview of FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. It also covers the criteria for qualifying as a micro-entity and the exemptions available to such entities. Date published: 8 March 2016. Updated May 2017.

2015 UK GAAP Accounts

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This factsheet highlights the new and modified UK GAAP requirements that are mandatory for accounting periods beginning in 2015. These requirements will also apply to those entities adopting the new financial reporting regime early. Date published: 3 June 2015 (last updated September 2015).

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