FRC issues revised versions of FRS 101 and FRS 102
22 Aug, 2014
The FRC has today issued revised editions of FRS 101 and FRS 102, incorporating recently published amendments.
The amended version of FRS 101 Reduced Disclosure Framework incorporates amendments set out in:
- Paragraph 1.14 of FRS 103 Insurance Contracts, issued in March 2014; and
- Amendments to FRS 101 Reduced Disclosure Framework (2013/14 Cycle) issued in July 2014.
The amended version of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland incorporates:
- editorial amendments, issued on 19 March 2014, to Section 11 Basic Financial Instruments, Section 12 Other Financial Instruments Issues and Section 35 Transition to this FRS;
- Amendments to FRS 102 – Basic financial instruments and Hedge accounting issued in July 2014; and
- the correction of some minor typographical errors.
The revised versions of the standards can be accessed on the FRC website.
Related Topics
- FRED 51: Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland: Hedge Accounting
- FRED 53: ‘Draft amendments to FRS 101 'Reduced Disclosure Framework' (2013/14)
- FRED 54: ‘Draft amendments to FRS 102 – Basic financial instruments
- New UK GAAP - FRS 100 - 102
