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 16 Leases - Updated
This factsheet provides an overview of IFRS 16 together with practical tips and examples. It has been updated for recent amendments.
Accounting and tax consequences of COVID-19 related support
In this guide we outline the accounting and tax implications of the main types of support packages offered by government to companies during the pandemic.
UK Regulation for Company Accounts – pre 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.
2020 UK GAAP Accounts
This factsheet highlights new and modified requirements effective 1 January 2020 and beyond, and includes practical guidance on recent amendments for rent concessions and IBOR reform.
2020 IFRS Accounts
This factsheet highlights new and modified requirements for preparers of IFRS accounts. The factsheet deals primarily with new IFRS requirements with mandatory application for annual periods beginning on or after 1 January 2020.
Brexit - reflections on implications for financial reporting
A summary of the key financial reporting considerations for December 2020 year-ends and beyond.
Modifications to revenue recognition under IFRS 15
A guide to the accounting implications of changes to contracts with customers as a result of the pandemic.
Contract modifications under IFRS 9 Financial Instruments
This short guide outlines the accounting implications of contract modifications to financial liabilities together with an illustrative example.
Future events and webinars
Building trust in corporate reporting through digitisation
How digitisation facilitates and supports better corporate reporting.
The UK Endorsement Board and other Brexit implications for financial reporting
Find out about the role of the UK Endorsement Board in a post-Brexit landscape, together with other financial reporting implications that have now crystallised.
Webinars, videos and podcasts
Improving the quality and value of financial information on the UK companies register
Hear current thinking from Companies House as they take the next steps in developing policies on accounts reform.
Consultation on mandating climate-related financial disclosures
An overview of the consultation on mandatory climate-related financial disclosures.
Bitesize Briefing: Implications of COVID-19 for micro-entities in 2020/21 reporting
Key considerations for micro-entities preparing 2020/21 accounts in light of the pandemic.
Bitesize Briefing: Going concern and impairment - your questions answered
Answering more questions from the related webinar on going concern and impairment issues for UK GAAP preparers in 2020/21 reporting.
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, with direct links to eIFRS.
eIFRS
Full access to the IASB's eIFRS resource available to Financial Reporting Faculty members.
Magazine and Insights
By All Accounts January 2021
An interview with Pauline Wallace, Chair of the UK Accounting Standards Endorsement Board. Plus non-financial reporting, reporting in times of uncertainty, insurance contracts, the future direction of FRS 102 and more.
By All Accounts, July 2020
An interview with Sir Jon Thompson, Chief Executive of the FRC as he leads the regulator's transformation. Plus articles on s172(1) statements, reverse factoring, energy and carbon reporting and accounting for climate change under UK GAAP.
Financial reporting news and insights
Highlights of the latest guidance published by the Financial Reporting Faculty as well as news and insights on current developments in financial reporting.
Thought leadership: Improving corporate reporting
IFBM conference 2020: The financial reporting system: seeing the bigger picture
View videos and academic papers from the 2020 Information for Better Markets conference on 'The financial reporting system: seeing the bigger picture'.
The art of conversation
The 2020 PD Leake lecture, given by Dr Miguel Minutti-Meza, Miami Herbert Business School, with a response from Allister Wilson, Assurance Partner at EY.
Non financial reporting ensuring a sustainable global recovery
There is a pressing need to expedite the sustainable rebuilding of economies the world over, including in Europe. The COVID-19 pandemic has battered human, social and economic capital across the globe. In responding to the virus and charting a post-coronavirus recovery path, we cannot lose sight of the wider unfolding picture of climate emergency, massive biodiversity loss and increasing inequality.