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FRS 100 Application of Financial Reporting Requirements

FRS 100 Application of Financial Reporting Requirements sets out a new financial reporting regime for the UK entities effective from 1 January 2015. It explains which standards apply to which entity, when an entity can apply the reduced disclosure framework, and when an entity should follow a SORP.

Which version of the standard?

Guidance on the effective version of FRS 100 for different annual periods along with notes on amendments and early adoption are available exclusively to Corporate Reporting Faculty members – log in or find out how to join the faculty.

Current standard in issue

Amendments applicable from 1 January 2021

Amendments appicable from 1 January 2023

See the FRC's website for a full list of standards in issue and earlier publications, including previous versions of FRS 100, amendments and guidance.

Summary and timeline

Looking for the synopsis? Our FRS 100 summary and timeline describes options for preparing financial statements – alongside a synopsis, any current proposals and a timeline of FRC updates relating to the standard.

ICAEW guides and support

Helpsheets and factsheets

Overview of UK regulation for company accounts
Corporate Reporting Faculty, August 2023
This factsheet provides an overview of requirements of company accounts affecting UK companies, including an overview of requirements for different sizes of companies, what needs to be included in the annual accounts, exemption from audit, and approval, circulation and filing of accounts.

The UK Financial Reporting Regime
Corporate Reporting Faculty, April 2023
This factsheet provides an overview of the UK accounting framework and, in particular, which accounting standards are applicable and the options that are available to different types of entity.

UK Regulation for Company Accounts - pre 2021
Corporate Reporting Faculty, January 2021
This factsheet provides an overview of the regulatory requirements affecting UK company accounts. It reflects the requirements of the Companies Act 2006 applicable to financial years beginning before 1 January 2021.

Annual factsheets

These exclusive factsheets, produced annually by the Corporate Reporting Faculty for its members, highlight all new and modified requirements for preparers of UK GAAP accounts. Each annual edition focuses primarily on new requirements with mandatory application for preparers with periods beginning on or after 1 January of that year.

2023 UK GAAP Accounts
Corporate Reporting Faculty, August 2023

2022 UK GAAP Accounts
Corporate Reporting Faculty, updated August 2023

2021 UK GAAP Accounts
Corporate Reporting Faculty, updated August 2022

2020 UK GAAP Accounts
Corporate Reporting Faculty, updated August 2021 

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.

The Companies Act 2006 and UK Generally Accepted Accounting Practice
Steve Collings, Bloomsbury Professional (2023)
A chapter introducing the structure of UK GAAP - part of a one-stop-shop guide by Steve Collings on all aspects of UK auditing standards and new UK GAAP accounting standards. The chapter includes a section on FRS 100, with guidance for first-time adoption of FRS 100. 

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FRS 100 – Application of financial reporting requirements
EY, UK GAAP 2019: Application of FRS 100–104 in the UK (2019)
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter covers the basis of preparation of financial statements, the status of the SORPs, requirements for transition, and requirements of the Companies Act 2006.

If you have any difficulties using these eBooks, please see our Help and support advice or contact library@icaew.com.

Ask ICAEW Technical Advisory Service

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

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