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
2021 UK GAAP Accounts
This factsheet highlights new and modified requirements for preparers of UK GAAP accounts for accounting periods beginning on or after 1 January 2021.
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: Updated
This factsheet highlights new requirements effective 1 January 2020 and beyond, including practical guidance on amendments for rent concessions and IBOR reform. It has been updated for recent changes.
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.
Future events and webinars
Financial Reporting, Audit and Assurance Conference
The 2021 Financial Reporting, Audit and Assurance Conference will explore how reporting and audit are transforming to increase trust and to build a sustainable future. This virtual event will be held on 11 and 12 October and will feature keynotes from Sir Jon Thompson and Lord Callanan.
Information for better markets conference: Accounting standards: the ‘too difficult’ box
In a series of daily online lectures, we consider the areas of financial reporting that, for one reason or another, may have been put in the ‘too difficult’ box.
Webinars, videos and podcasts
Climate risk and corporate reporting
This webinar explores the FRC’s thematic review of climate-related considerations, in particular the report covering how companies are developing their reporting on climate-related challenges.
Endorsement Board and other Brexit implications for financial reporting
Hear about the role of the UK Endorsement Board and other financial reporting implications of Brexit.
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.
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 July 2021
An interview with Professor Dr Andreas Barckow, incoming Chair of the IASB, the impact of the BEIS White Paper proposals on reporting, sustainable cost accounting, the commencement of the next upcoming periodic review of UK GAAP, s172(1) reporting for private companies and Bitcoin.
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.
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
Practical suggestions on how the EU and international actors can support the collaborative development of non-financial reporting standards.