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FRC to update XBRL tagging to reflect new UK accounting standards

  • FRC Image
  • XBRL (eXtensible Business Reporting Language) (mid blue) Image

26 Sep 2013

The Financial Reporting Council (FRC) has announced a project to update the XBRL tagging conventions (taxonomies) to reflect the new financial reporting standards for the UK and Ireland – FRS 100, FRS 101 and FRS 102 introduced in March 2013.

The project, which is being overseen by a governance committee, is a collaboration with Companies House, HMRC, large accounting firms and the Department for Business, Innovation and Skills (BIS).  

The FRC are targeting the updates for 1 January 2015, the date on which the new financial reporting standards are effective from. 

The press release is available on the FRC website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.