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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.

FRS 105: Micro-entities’ Accounts FAQs

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Frequently asked questions on the eligibility criteria, the main features of the micro-entities regime and how that compares with the small company regime.

Micro-entities filing options FAQs

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This page answers frequently asked questions about the filing options for micro-entities. Updated September 2019.

Accelerated Payment Notices

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In this FRS 102 Update, Financial Reporting Faculty staff answer some of your questions regarding APNs for corporation tax. Updated October 2017.

Small LLPs filing options FAQs

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This page answers frequently asked questions about the filing options for small LLPs. Updated September 2019.

FRS 102 Update: Intercompany loans at non-market rates

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This FRS 102 Update addresses some of the questions raised by members regarding the accounting treatment of intercompany loans which are provided interest free or at below-market interest rates. Updated July 2017.

Accounting for directors loans under FRS 102

In this edition of a series of views and commentary on FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, Financial Reporting Faculty staff comment on some of the questions raised by members about accounting for directors’ loans, taking account of member comments in response to recent faculty blogs on the issue. Published March 2016. Updated June 2017.

FRS 101 Reduced Disclosure Framework

In this edition of a new series of views and commentary on FRS 101 Reduced Disclosure Framework, Financial Reporting Faculty staff answer some of your questions on the new standard. Updated May 2017.

Small company filing options FAQs

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This page answers frequently asked questions about the filing options for small companies. Updated September 2019.

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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.