Financial Reporting Faculty
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Financial Reporting Faculty
All our resources are committed to providing members with practical help in today's complex world of financial reporting.
We provide clear and accessible assistance across a spectrum of financial reporting issues, keeping you up to date with changing regulations and standards. Our specialist online resources range from technical briefings and factsheets, to webcasts, blogs, and IFRS and UK GAAP accounting standards, which you can tap into wherever you are in the world.
Need to know
In this section
Factsheets, FAQs and Technical Releases
FRS 102 Overview
This factsheet provides a high-level summary of FRS 102 and includes practical tips and guidance on some common pitfalls, including in relation to financial instruments, property, plant and equipment, and investment properties.
Preparing and filing UK small entity accounts
This factsheet considers simplifications available to small entities and the criteria to be met. Published 28 February 2019.
IFRS 9 Financial Instruments – overview
This factsheet outlines the key requirements of IFRS 9 Financial Instruments, including classification and measurement, and impairment of financial assets. It’s focus is on the non-financial sector.
2018 IFRS Accounts
This factsheet highlights new and modified requirements for preparers of IFRS accounts with helpful tips on how to apply the changes in practice.
IFRS 17 Insurance Contracts
This factsheet provides guidance for non-insurers assessing whether or to what extent they will be affected by the IFRS 17.
2018 UK GAAP Accounts
This factsheet provides a more detailed look at the Triennial review 2017 amendments to FRS 102 and other UK GAAP standards. The changes are mandatory 1 January 2019 with early adoption permitted.
FRS 102 - Impairment of assets
This factsheet is a summary of the basic principles of accounting for impairment with practical guidance to will help with implementation.
FRS 102 Triennial review 2017 amendments – What are the changes?
In this FRS 102 Update, faculty staff answer some of the more frequently asked questions on the changes to UK GAAP standards arising from the Triennial review 2017.
Future events and webinars
Webinar IFRS 16 Leases the impact
With IFRS 16 Leases being effective from 1 January 2019, this webinar will look at the wider commercial, economic, technological and demographic trends that could challenge the assumptions included in the lease standard.
Accounting Financial Reporting update London
Find out about the headline changes to FRS 102 and FRS 105, learn the pitfalls and opportunities on transition relating to investment properties, and understand the opportunities in acquisition accounting amongst other learning outcomes.
Accounting Financial Reporting update London 18 June
Find out about the headline changes to FRS 102 and FRS 105, learn the pitfalls and opportunities on transition relating to investment properties, and understand the opportunities in acquisition accounting amongst other learning outcomes.
Financial Reporting Conference 2019
Covering all the latest developments in corporate reporting.
Webinars, videos and podcasts
IFRS 16 Leases - the impact
This webinar looks at the impact of IFRS 16 Leases, its interaction with evolving business models and potential challenges for users.
Bitesize briefing - What makes up an annual report?
In this short 20 minute webinar, you will gain an increase understanding of today’s complex annual report requirements.
FRS 105 The micro-entities regime - all you need to know
This webinar looks at some practical issues that have emerged with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.
Bitesize briefing - Introducing the Financial Reporting Lab
In this short 20 minute webinar, we find out more about effectiveness of corporate reporting in the UK.
Accounting standards and eIFRS
UK GAAP
Access to a wide range of online resources on UK GAAP accounting standards.
IFRS
A synopsis of each IFRS, identifying recent amendments and which version of the standard applies to a particular period.
eIFRS
Full access to the IASB's eIFRS resource available to Financial Reporting Faculty members.
By All Accounts
By All Accounts, issue 19 (January 2019)
What’s changed in the FRC’s Guidance on the Strategic Report and other narrative reporting requirements. We also highlight Brexit’s impact on the preparation of 2018 financial statements and delve deeper into the triennial review amendments to FRS 102.
By All Accounts, issue 18 (July 2018)
We highlight the reasons behind Carillion’s collapse, discuss how cryptocurrencies work and consider the dilemmas they pose. We explain the triennial review amendments to FRS 102 and consider some of the practical challenges faced in applying IFRS 16 Leases.
By All Accounts, issue 17 (January 2018)
We talk to Kathryn Cearns on the importance of professional ethics, discuss new recommendations for climate-related financial disclosures, provide a progress report on IFRS 15 Revenue implementation and shed some light on the filing options for small company accounts.
Thought leadership: Information for Better Markets
Smaller listed and AIM quoted companies
This guide, written in association with the Financial Reporting Council, offers advice for audit committees and boards of smaller quoted companies on evaluating the adequacy of a company’s financial reporting function and process.
IFBM conference 2018: Financial scandals
View video recordings, blog posts and academic papers from the 2018 Information for Better Markets conference on ‘Financial Scandals’.
More than words: the use of textual analysis in corporate reporting
The 2018 PD Leake lecture given by Professor Craig Lewis, Vanderbilt University, with a response from Sallie Pilot of Black Sun.