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UK GAAP FAQs

The Financial Reporting Faculty regularly produces FAQs on areas of general interest. We answer your initial questions on the topic, and guide you to any other relevant resources that are available.

The Financial Reporting Faculty also assists ICAEW’s Technical Enquiry Service in preparing helpsheets.

Brexit: Implications of changes to company law on corporate reporting

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The end of the transition period brought into effect changes in company law that have an impact on the preparation of the annual report and accounts. This guide outlines some of the practical implications.

Renegotiating loan contracts under FRS 102

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This guide outlines the accounting requirements under FRS 102 when loan contract terms are renegotiated together with illustrative examples.

Coronavirus: Filing deadlines

This guide summarises the temporary measures introduced relating to filing requirements at Companies House to support companies during the COVID-19 pandemic.

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Further information on FRS 100, FRS 101 and FRS 102 is available. Additional resources on the new UK regime, including factsheets and webinars, can be found at icaew.com/newukgaap.

Coronavirus and financial reporting

Guidance for preparers of financial statements, including advice on going concern, accounting for government schemes, disclosures and much more.

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