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FRS 104 summary and timeline

A summary of FRS 104 Interim Financial Reporting, including information on who should apply the standard, current proposals and a timeline of past amendments, announcements, exposure drafts and consultations.


Looking for the standard?

Practical guidance on this standard is now on our main FRS 104 page, with links to the full text standard, eBooks and other resources.

FRS 104 prescribes the minimum content for an interim financial report and the principles for recognition and measurement in such reports together with required disclosures.

The standard does not mandate which entities must prepare interim reports, or prescribe how frequently or how soon after the end of an interim period such reports should be issued.

Condensed versions of the main financial statements are required within an interim report, along with selected explanatory notes. Guidance is given within the standard for the measurement of items such as revenues affected by seasonality and income taxes.

Who should apply the standard?

FRS 104 is intended to be applied by those entities that apply FRS 102 and must prepare, or choose to prepare, interim financial reports. It may also be used as a basis for preparing interim reports by entities applying FRS 101.


Date Update
31 January 2022 January 2022 editions of accounting standards reflect amendments made since the previous editions were issued in 2018 as well as changes in Irish company law.
21 December 2020 Amendments to accounting standards – UK exit from the EU
Amendments to FRS 100, 101, 102, 103, 104 and 105 issued by the FRC to ensure consistency with UK company law and to update legal references and terminology used in the standards, reflecting changes in legislation as the EU exit transition period ends.
19 October 2020 Amendments to FRS 104 – Going concern
News update from the FRC announcing publication of Amendments to FRS 104 – Going concern, which clarifies and enhances requirements relating to the going concern basis of accounting in respect of interim financial reports.
23 July 2020 FRC proposes amendments to UK accounting standards
The FRC has issued exposure draft FRED 75 Draft amendments to FRS 104 – Going concern, which proposes to clarify the requirement to assess the going concern basis of accounting and require the disclosure of any related material uncertainties.
28 March 2018 March 2018 editions of accounting standards reflect triennial review amendments
Press notice issued by the FRC on 28 March 2018 announcing the publication of new editions of all UK and Ireland accounting standards.
19 March 2015 FRC issues new UK and Irish interim reporting requirements
Press notice issued by the FRC on 19 March 2015 announcing the publication of FRS 104.
12 November 2014
FRC consults on new UK and Irish interim reporting requirements
Press notice issued by the FRC on 12 November 2014 announcing ‘FRED 56 Draft FRS 104 Interim Financial Reporting’.
29 October 2010 The Future of Financial Reporting in the UK and the Republic of Ireland
Press notice issued by the FRC on 29 October 2010, announcing proposals for a three-tier reporting framework and a simplified UK standard based on the IFRS for SMEs.