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UK GAAP

Generally Accepted Accounting Practice in the UK (UK GAAP) is the body of accounting standards and other guidance published by the UK’s Financial Reporting Council (FRC). The financial reporting framework in the UK is effective from 1 January 2015.

Within this section you can find all our information with links to practical resources on all UK GAAP standards including: FRS 100 The Application of the Financial Reporting Regime, FRS 101 Reduced Disclosure Framework, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

UK Reporting framework

FRS 100 Application of Financial Reporting Requirements sets out the reporting regime.

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FRS 100

FRS 100 Application of Financial Reporting Requirements sets out the financial reporting regime for the UK and Republic of Ireland.

Small entity reporting

A new financial framework for small and micro entities is effective from 1 January 2016.

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Small and micro entity reporting

An overview of the options available to smaller entities, the eligibility criteria and the pros and cons of adopting FRS 102 Section 1A Small Entities versus FRS 105.

Reduced disclosures

FRS 101 Reduced Disclosure Framework available to certain UK IFRS reporters.

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FRS 101

FRS 101 Reduced Disclosure Framework sets out disclosure exemptions available to UK qualifying subsidiaries and parent companies that otherwise apply EU-adopted IFRS.

The reporting standard

FRS 102 The Financial reporting Standard applicable in the UK and Republic of Ireland.

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FRS 102

FRS 102 The Financial Reporting Standard is the principal accounting standard in the UK financial reporting regime. It sets out the requirements for entities that are not applying EU-adopted IFRS, FRS 101 or FRS 105.

Insurance contracts

FRS 103 Insurance Contracts - requirements and guidance for insurance contracts.

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FRS 103

FRS 103 Insurance Contracts consolidates the financial reporting requirements and guidance for insurance contracts.

Interim Financial Reports

FRS 104 Interim Financial Reporting for entities that apply FRS 102.

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FRS 104

FRS 104 Interim Financial Reporting provides guidance on the preparation of interim financial reports. It is based on IAS 34.

The micro-entities regime

FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

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FRS 105

FRS 105 is the UK accounting standard for entities eligible for, and who choose to apply, the micro-entities regime.

UK GAAP for specific sectors

Find out how UK GAAP is applied across a range of business and industry sectors.

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Accounting for specific sectors

Guidance and UK standards, including SORPs, covering a variety of business and industry sectors.

Factsheets

Practical online guidance written exclusively for faculty members by experts.

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UK GAAP factsheets

Practical online guidance for faculty members on topical UK GAAP issues.

Articles

A selection of articles on topical UK GAAP issues selected from the faculty's journal.

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UK GAAP articles

A selection of articles on topical issues in UK GAAP issues selected from the faculty's journal and Practicewire.

Webinar and event recordings

Access the recordings and download the slides from recent webinars on UK GAAP issues.

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Webinar recordings

Access the recordings and download the slides from recent webinars on topical UK GAAP issues.

UK GAAP FAQs

Answers to initial questions on the new regime, with signposts to additional information.

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UK GAAP FAQs

Answers to initial questions on topical issues, with signposts to additional information.

UK GAAP courses

ICAEW provide a range of courses that will help develop your knowledge of UK and US GAAP.

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UK GAAP events

This range of courses will help develop your knowledge of UK and US GAAP.

Old UK GAAP accounting standards

Find out when a particular old standard was in force.

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Old UK GAAP accounting standards

A synopsis of each standard, identifying recent amendments and which version of the standard applies to a particular period.

Library & Information Service

Handpicked resources covering the standards under old UK GAAP.

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Old UK GAAP

Summaries and useful guides covering the old FRSs issued by the Financial Reporting Council.

UK SSAP

Statements of Standard Accounting Practice were issued by the Accounting Standards Board and although many have been superseded by Financial Reporting Standards, some are still in force for accounting periods commencing before 31 December 2014.