ICAEW.com works better with JavaScript enabled.

UK GAAP FAQs

The Financial Reporting Faculty regularly produces FAQs on areas of general interest. We answer your initial questions on the topic, and guide you to any other relevant resources that are available.

The Financial Reporting Faculty also assists ICAEW’s Technical Enquiry Service in preparing helpsheets.

FRS 102 Triennial review 2017 amendments – What are the changes?

This is exclusive item - please log in or subscribe to view this item.

In December 2017 the UK’s FRC issued amendments to UK GAAP standards arising from its Triennial review. Although many of the amendments aim to clarify rather than change accounting treatments, there are significant changes to some areas.

FRS 105 Update: Micro-entities’ Accounts FAQs

This is exclusive item - please log in or subscribe to view this item.

This FRS 105 Update looks at the micro-entities regime and FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. Updated February 2018.

Micro entities filing options - FAQ

This is exclusive item - please log in or subscribe to view this item.

This page answers frequently asked questions about the filing options for micro-entities. Published December 2017.

Accelerated Payment Notices

This is exclusive item - please log in or subscribe to view this item.

In this FRS 102 Update, Financial Reporting Faculty staff answer some of your questions regarding APNs for corporation tax. Updated October 2017.

FAQ - Small Companies Disclosure Of Transactions With Directors

This is exclusive item - please log in or subscribe to view this item.

In this edition of a series of views and commentary on FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, Financial Reporting Faculty staff answer some of your questions about what companies applying the UK small companies regime need to disclose about transactions with directors.

Filing options under the new small LLPs regime

This is exclusive item - please log in or subscribe to view this item.

Recent changes to the LLP regulations removed the option for small LLPs to file an abbreviated version of their full accounts with Companies House for periods beginning on or after 1 January 2016. This document answers frequently asked questions about the filing options available under the new small LLPs regime. Published September 2017.

Loans from directors under the new UK GAAP - FAQs

This is exclusive item - please log in or subscribe to view this item.

In this edition of the Financial Reporting Faculty’s series of Updates on FRS 102, faculty staff comment on some of the questions and concerns raised by members on the accounting for loans from directors who are also shareholders of the company, primarily in the context of small companies. Published August 2017.

FRS 102 Update: Intercompany loans at non-market rates

This is exclusive item - please log in or subscribe to view this item.

This FRS 102 Update addresses some of the questions raised by members regarding the accounting treatment of intercompany loans which are provided interest free or at below-market interest rates. Updated July 2017.

Accounting for directors loans under FRS 102

In this edition of a series of views and commentary on FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, Financial Reporting Faculty staff comment on some of the questions raised by members about accounting for directors’ loans, taking account of member comments in response to recent faculty blogs on the issue. Published March 2016. Updated June 2017.

Showing 10 of 24 items

Further information on FRS 100, FRS 101 and FRS 102 is available. Additional resources on the new UK regime, including factsheets and webinars, can be found at icaew.com/newukgaap.