Financial Reporting Faculty
Membership of the Financial Reporting Faculty gives you exclusive access to a suite of online factsheets, the faculty’s webinar programme, eIFRS and much more. Find out more.
Financial Reporting Faculty
As a faculty member you have exclusive access to a suite of online factsheets, the faculty’s webinar programme and events, eIFRS and much more.
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
IFRS 9 Financial Instruments - hedge accounting
This factsheet outlines the hedge accounting requirements of IFRS 9 Financial Instruments, comparing them with those of IAS 39. It also contains practical tips to help with implementation.
The UK Financial Reporting Regime
This factsheet provides an overview of the UK accounting framework, which accounting standards are applicable, and the options that are available to different types of entity.
2019 IFRS Accounts
This factsheet provides an overview of new and modified requirements for preparers of IFRS accounts for 2019 and practical tips on how to implement the changes.
2019 UK GAAP Accounts Factsheet
This factsheet provides a detailed look at the Triennial review 2017 and other amendments to UK GAAP standards. The changes are mandatory 1 January 2019.
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.
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.
Future events and webinars
FRS 105 Micro-entities
Find answers to the most commonly asked questions on micro-entity accounts in this 20-minute webcast.
Narrative reporting - part 2
A webinar focusing on the new requirement, effective in 2019, to provide a s172 (1) report in the Strategic Report, setting out how directors have fulfilled their duty under s172.
Financial Reporting Conference 2019
Expert speakers will explore the future of corporate reporting and discuss the latest developments in narrative and climate-related reporting
Webinars, videos and podcasts
Narrative reporting - part 2
This webinar focuses on the new requirement, effective in 2019, to provide a s172 (1) report in the Strategic Report, setting out how directors have fulfilled their duty under s172.
Bitesize briefing - FRS 105 Micro-entities - answering your questions
Find answers to the most commonly asked questions on micro-entity accounts in this 20-minute webcast.
ESEF - understanding the controversy
This webinar helps companies get ready for the incoming European Single Electronic Format (ESEF) mandate.
Bitesize briefing - Performance metrics
In this short 20-minute webinar, we find out more about how companies can improve how they measure and report on performance.
Accounting standards and eIFRS
UK GAAP
Access to a wide range of online resources on UK GAAP accounting standards.
IFRS accounting standards
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, July 2019 (issue 20)
Russell Picot talks about the importance of an organisation's resilience to climate risk. The practicalities of IFRS 16 are tackled and experiences of IFRS 9 and 15 implementation shared. Also includes FRS 102's top three application issues and Section 1A's disclosure requirements.
By All Accounts, January 2019 (issue 19)
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, July 2018 (issue 18)
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.
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.