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Public benefit entities under new UK GAAP

Section 34 of the accounting standard FRS 102 covers public benefit entity combinations and concessionary loans. On this page you can access a range of articles, books and online resources providing useful links to the standard, summaries, guidance and news of recent developments.

General guidance and information on the accounting standard is available from our FRS 102 page. We also have a separate page on the charities SORP.

The receipt of tangible fixed assets as gifts or donations by charities was dealt with in FRS 15 under old UK GAAP. This standard has been superseded by FRS 102.

What's on this page?

  • Full-text standard
  • Model accounts
  • Guidance and support from ICAEW
  • eBooks
  • Guides
  • Online articles
  • Articles and books from the Library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com

T  +44 (0)20 7920 8620

Full-text standard

FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland
As issued by the Financial Reporting Council (FRC) in September 2015. This updated edition incorporates amendments issued in September 2014, February 2015, March 2015 and July 2015. Public benefit entity combinations and concessionary loans are covered in Section 34, Specialised Activities.

More information and links to previous versions and amendments are available on our main FRS 102 page.

Model accounts

Model accounts and disclosure checklists for new UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, FRS 103 and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.

ICAEW guidance and support

The new UK GAAP
ICAEW's financial reporting portal offering practical resources on the new regime, including guidance factsheets and FAQs covering key topics.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can help you with your new UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.

Questions we've dealt with recently include:

  • I understand I can recognise grants under the performance basis as well as the accruals basis under FRS 102. What are the differences?
  • What is happening to the FRSSE? Can I still use it?
  • How does FRS 102 impact charities?

Find out more about the Technical and ethics advisory helpline, including our opening hours.

Financial Reporting Faculty

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.

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Interpretation and application of UK GAAP for accounting periods commencing on or after 1 January 2015
Steve Collings (2015)
A detailed, practical guide to applying UK GAAP with specific sections and examples covering:

Guides

Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

Staff Education Note 12: Incoming resources from non-exchange transactions
Guidance note produced by the FRC comparing the accounting requirements for incoming resources from non-exchange transactions (including but not limited to donations of cash, goods and services and legacies) under FRS 15 and FRS 102.

An introduction to FRS 102 for charities
Grant Thornton 2014 guide summarising the reporting issues for charities and other public benefit entities addressed by FRS 102 and the FRS 102 compliant SORP.

Cutting through UK GAAP
Detailed guide from KPMG on FRS 100,101 and 102. Public benefit entities are covered on pages 278 - 284. Published April 2013.

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.

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 web chat or by email at library@icaew.com.

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