Standards
This page contains links to our summaries, analysis, history and resources for:
UK GAAP
| # | Name | Issued |
|---|---|---|
| FRS100 | Application of financial reporting requirements | 2012 |
| FRS101 | Reduced disclosure framework | 2012 |
| FRS102 | The financial reporting standard applicable in the UK and the Republic of Ireland | 2013 |
| FRS103 | Insurance Contracts |
2014 |
| FRS104 | Interim Financial Reporting |
2015 |
| FRS105 | The Financial Reporting Standard applicable to the Micro-entities Regime |
2015 |
In addition to the above Standards, the FRC has published Staff Education Notes (SENs) which illustrate certain requirements of FRS 102 for the convenience of its users. The SENs have been issued to assist entities using or thinking of using FRS 102 as a basis of preparation for their financial statements. These guidance notes aim to illustrate certain requirements of FRS 102, although they do not have any authoritative status.
Statements of Recommended Practice (SORPS)
| Name | Latest version | Effective date (reporting periods beginning on or after) | |
|---|---|---|---|
| Accounting and reporting by charities FRS 102 | 2019 | 1 January 2019 | |
| Accounting for further and higher education * | 2019 | 1 January 2019 and * | |
| Accounting by Limited Liability Partnerships (LLPs) | 2024 | 1 July 2024 | |
| Accounting by Social Housing providers *** | 2018 | 1 January 2019 and *** | |
| Financial reports of pension schemes | 2018 | 1 January 2019 | |
| Financial statements of authorised funds **** | 2014 | 1 January 2015 | |
| Financial statements of investment trust companies and venture capital trusts | 2022 | 1 January 2022 | |
* In July 2021, the FE HE SORP Board published FE / HE SORP Guidance Note 2021 to reflect the Amendments to UK and Republic of Ireland accounting standards - UK exit from the European Union issued by the Financial Reporting Council in December 2020. The guidance updates the 2019 edition of the SORP for the December 2020 amendments. The amendments made to the 2019 SORP by the guidance are applicable for accounting periods beginning on or after 1 January 2021. Early application is permitted as set out in paragraph 1.32 of FRS 102. For accounting periods beginning on or after 1 January 2021, the 2019 SORP must be read in conjunction with this guidance.
** In January 2022, the National Housing Federation issued Housing SORP Guidance Note 22 to update the 2018 SORP to reflect the amendments made to FRS102 for changes in UK company law following the UK's exit from the European Union. The amendments made to the 2018 SORP by the guidance are applicable for accounting periods beginning on or after 1 January 2021. For accounting periods beginning on or after 1 January 2021, the 2018 SORP must be read in conjunction with this guidance.
*** The May 2014 SORP was updated in June 2017.
| # | Name | Issued |
|---|---|---|
| IFRS S1 | General Requirements for Disclosure of Sustainability-related Financial Information | 2023 |
| IFRS S2 | Climate-related Disclosures | 2023 |
International Financial Reporting Standards
- IFRS Summary Page
- International Accounting Standards
- IFRIC Interpretations
- SIC-Interpretations
- Other pronouncements
| # | Name | Issued |
|---|---|---|
| IFRS 1 | First-time Adoption of International Financial Standards | 2008* |
| IFRS 2 | Share-based Payment | 2004 |
| IFRS 3 | Business Combinations | 2008* |
| IFRS 4 |
Insurance Contracts Superseded in 2023 by IFRS 17 |
2004 |
| IFRS 5 | Non-current Assets Held for Sale and Discontinued Operations | 2004 |
| IFRS 6 | Exploration for and Evaluation of Mineral Assets | 2004 |
| IFRS 7 | Financial Instruments: Disclosures | 2005 |
| IFRS 8 | Operating Segments | 2006 |
| IFRS 9 | Financial Instruments | 2010* |
| IFRS 10 | Consolidated Financial Statements | 2011 |
| IFRS 11 | Joint Arrangements | 2011 |
| IFRS 12 | Disclosure of Interests in Other Entities | 2011 |
| IFRS 13 | Fair Value Measurement | 2011 |
| IFRS 14 | Regulatory Deferral Accounts | 2014 |
| IFRS 15 | Revenue from Contracts with Customers | 2014 |
| IFRS 16 | Leases | 2016 |
| IFRS 17 | Insurance Contracts | 2017 |
| IFRS 18 | Presentation and Disclosures in Financial Statements | 2024 |
| IFRS 19 | Subsidiaries without Public Accountability: Disclosures | 2024 |
International Accounting Standards
| # | Name | Issued |
|---|---|---|
| IAS 1 |
Presentation of Financial Statements Will be superseded in 2027 by IFRS 18 |
2007* |
| IAS 2 | Inventories | 2005* |
| IAS 3 | Consolidated Financial Statements Superseded in 1989 by IAS 27 and IAS 28 |
1976 |
| IAS 4 | Depreciation Accounting Withdrawn in 1999 |
|
| IAS 5 | Information to Be Disclosed in Financial Statements Superseded by IAS 1 effective 1 July 1998 |
1976 |
| IAS 6 | Accounting Responses to Changing Prices Superseded by IAS 15, which was withdrawn December 2003 |
|
| IAS 7 | Statement of Cash Flows | 1992 |
| IAS 8 | Accounting Policies, Changes in Accounting Estimates and Errors | 2003 |
| IAS 9 | Accounting for Research and Development Activities Superseded by IAS 39 effective 1 July 1999 |
|
| IAS 10 | Events After the Reporting Period | 2003 |
| IAS 11 |
Construction Contracts Superseded in 2018 by IFRS 15
|
1993 |
| IAS 12 | Income Taxes | 1996* |
| IAS 13 | Presentation of Current Assets and Current Liabilities
Superseded by IAS 1 effective 1 July 1998
|
|
| IAS 14 | Segment Reporting Superseded by IFRS 8 effective 1 January 2009 |
1997 |
| IAS 15 | Information Reflecting the Effects of Changing Prices Withdrawn December 2003 |
2003 |
| IAS 16 | Property, Plant and Equipment | 2003* |
| IAS 17 |
Leases Superseded in 2019 by IFRS 16
|
2003* |
| IAS 18 |
Revenue Superseded in 2018 by IFRS 15 |
1993* |
| IAS 19 | Employee Benefits Superseded by IAS 19 (2011) effective 1 January 2013 |
1998 |
| IAS 19 | Employee Benefits (2011) | 2011* |
| IAS 20 | Accounting for Government Grants and Disclosure of Government Assistance | 1983 |
| IAS 21 | The Effects of Changes in Foreign Exchange Rates | 2003* |
| IAS 22 | Business Combinations Superseded by IFRS 3 effective 31 March 2004 |
1998* |
| IAS 23 | Borrowing Costs | 2007* |
| IAS 24 | Related Party Disclosures | 2009* |
| IAS 25 | Accounting for Investments Superseded by IAS 39 and IAS 40 effective 2001 |
|
| IAS 26 | Accounting and Reporting by Retirement Benefit Plans | 1987 |
| IAS 27 | Separate Financial Statements (2011) | 2011 |
| IAS 27 | Consolidated and Separate Financial Statements Superseded by IFRS 10, IFRS 12 and IAS 27 (2011) effective 1 January 2013 |
2003 |
| IAS 28 | Investments in Associates and Joint Ventures (2011) | 2011 |
| IAS 28 | Investments in Associates Superseded by IAS 28 (2011) and IFRS 12 effective 1 January 2013 |
2003 |
| IAS 29 | Financial Reporting in Hyperinflationary Economies | 1989 |
| IAS 30 | Disclosures in the Financial Statements of Banks and Similar Financial Institutions Superseded by IFRS 7 effective 1 January 2007 |
1990 |
| IAS 31 | Interests In Joint Ventures Superseded by IFRS 11 and IFRS 12 effective 1 January 2013 |
2003* |
| IAS 32 | Financial Instruments: Presentation | 2003* |
| IAS 33 | Earnings Per Share | 2003* |
| IAS 34 | Interim Financial Reporting | 1998 |
| IAS 35 | Discontinuing Operations Superseded by IFRS 5 effective 1 January 2005 |
1998 |
| IAS 36 | Impairment of Assets | 2004* |
| IAS 37 | Provisions, Contingent Liabilities and Contingent Assets | 1998 |
| IAS 38 | Intangible Assets | 2004* |
| IAS 39 | Financial Instruments: Recognition and Measurement Superseded by IFRS 9 effective 1 January 2018 where IFRS 9 is applied |
2003* |
| IAS 40 | Investment Property | 2003* |
| IAS 41 | Agriculture | 2001 |
IFRIC Interpretations
| # | Name | Issued |
|---|---|---|
| IFRIC 1 | Changes in Existing Decommissioning, Restoration and Similar Liabilities | 2004 |
| IFRIC 2 | Members' Shares in Co-operative Entities and Similar Instruments | 2004 |
| IFRIC 3 | Emission Rights Withdrawn June 2005 |
2004 |
| IFRIC 4 |
Determining Whether an Arrangement Contains a Lease Superseded in 2019 by IFRS 16
|
2004 |
| IFRIC 5 | Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds | 2004 |
| IFRIC 6 | Liabilities Arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment | 2005 |
| IFRIC 7 | Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies | 2005 |
| IFRIC 8 | Scope of IFRS 2 Withdrawn effective 1 January 2010 |
2006 |
| IFRIC 9 | Reassessment of Embedded Derivatives | 2006 |
| IFRIC 10 | Interim Financial Reporting and Impairment | 2006 |
| IFRIC 11 | IFRS 2: Group and Treasury Share Transactions Withdrawn effective 1 January 2010 |
2006 |
| IFRIC 12 | Service Concession Arrangements | 2006 |
| IFRIC 13 | Customer Loyalty Programmes
Superseded in 2018 by IFRS 15
|
2007 |
| IFRIC 14 | IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction | 2007 |
| IFRIC 15 |
Agreements for the Construction of Real Estate Superseded in 2018 by IFRS 15 |
2008 |
| IFRIC 16 | Hedges of a Net Investment in a Foreign Operation | 2008 |
| IFRIC 17 | Distributions of Non-cash Assets to Owners | 2008 |
| IFRIC 18 | Transfers of Assets from Customers
Superseded in 2018 by IFRS 15
|
2009 |
| IFRIC 19 | Extinguishing Financial Liabilities with Equity Instruments | 2009 |
| IFRIC 20 | Stripping Costs in the Production Phase of a Surface Mine | 2011 |
| IFRIC 21 | Levies | 2013 |
| IFRIC 22 | Foreign Currency Transactions and Advance Consideration | 2016 |
| IFRIC 23 | Uncertainty over Income Tax Treatments | 2017 |
|
Uncertainty over Income Tax TreatmentsUncertainty over Income Tax TreatmentsUncertainty over Income Tax Treatments
|
SIC Interpretations
| # | Name | Issued |
|---|---|---|
| SIC-1 | Consistency – Different Cost Formulas for Inventories Superseded |
1997 |
| SIC-2 | Consistency – Capitalisation of Borrowing Costs Superseded |
1997 |
| SIC-3 | Elimination of Unrealised Profits and Losses on Transactions with Associates Superseded |
1997 |
| SIC-5 | Classification of Financial Instruments - Contingent Settlement Provisions Superseded |
1998 |
| SIC-6 | Costs of Modifying Existing Software Superseded |
1998 |
| SIC-7 | Introduction of the Euro | 1998 |
| SIC-8 | First-Time Application of IASs as the Primary Basis of Accounting Superseded |
1998 |
| SIC-9 | Business Combinations – Classification either as Acquisitions or Unitings of Interests Superseded |
1998 |
| SIC-10 | Government Assistance – No Specific Relation to Operating Activities | 1998 |
| SIC-11 | Foreign Exchange – Capitalisation of Losses Resulting from Severe Currency Devaluations Superseded |
1998 |
| SIC-12 | Consolidation – Special Purpose Entities Superseded by IFRS 10 and IFRS 12 effective 1 January 2013 |
1998 |
| SIC-13 | Jointly Controlled Entities – Non-Monetary Contributions by Venturers Superseded by IFRS 11 and IFRS 12, effective for annual periods beginning on or after 1 January 2013 |
1998 |
| SIC-14 | Property, Plant and Equipment – Compensation for the Impairment or Loss of Items Superseded |
1998 |
| SIC-15 |
Operating Leases – Incentives Superseded in 2019 by IFRS 16 |
1999 |
| SIC-16 | Share Capital – Reacquired Own Equity Instruments (Treasury Shares) Superseded |
1999 |
| SIC-17 | Equity – Costs of an Equity Transaction Superseded |
2000 |
| SIC-18 | Consistency – Alternative Methods Superseded |
2000 |
| SIC-19 | Reporting Currency – Measurement and Presentation of Financial Statements under IAS 21 and IAS 29 Superseded |
2000 |
| SIC-20 | Equity Accounting Method – Recognition of Losses Superseded |
2000 |
| SIC-21 | Income Taxes – Recovery of Revalued Non-Depreciable Assets Superseded by, and incorporated into, IAS 12 by amendments made by Deferred Tax: Recovery of Underlying Assets, effective for annual periods beginning on or after 1 January 2012 |
2000 |
| SIC-22 | Business Combinations – Subsequent Adjustment of Fair Values and Goodwill Initially Reported Superseded |
2000 |
| SIC-23 | Property, Plant and Equipment – Major Inspection or Overhaul Costs Superseded |
2000 |
| SIC-24 | Earnings Per Share – Financial Instruments and Other Contracts that May Be Settled in Shares Superseded |
2000 |
| SIC-25 | Income Taxes – Changes in the Tax Status of an Enterprise or its Shareholders | 2000 |
| SIC-27 |
Evaluating the Substance of Transactions in the Legal Form of a Lease Superseded in 2019 by IFRS 16
|
2000 |
| SIC-28 | Business Combinations – 'Date of Exchange' and Fair Value of Equity Instruments Superseded |
2001 |
| SIC-29 | Disclosure – Service Concession Arrangements | 2001 |
| SIC-30 | Reporting Currency – Translation from Measurement Currency to Presentation Currency Superseded |
2001 |
| SIC-31 | Revenue – Barter Transactions Involving Advertising Services
Superseded in 2018 by IFRS 15
|
2001 |
| SIC-32 | Intangible Assets – Web Site Costs | 2001 |
| SIC-33 | Consolidation and Equity Method – Potential Voting Rights and Allocation of Ownership Interests Superseded |
2001 |
Other pronouncements
Note
The above tables list the most recent version (or versions if a pronouncement has not yet been superseded) of each pronouncement and the date that revisions was originally issued. Where a pronouncement has been reissued with the same or a different name, the date indicated in the above tables is the date the revised pronouncement was reissued (these are indicated with an asterisk (*) in the tables). The majority of the pronouncements have also been amended through IASB or IFRS Interpretations Committee projects, for consequential amendments arising on the issue of other pronouncements, the annual improvements process, and other factors. Our page for each pronouncement has a full history of the pronouncement, its development, amendments and other information.
Organisations involved in financial reporting
- For UK organisations see our 'other regulatory' resource page.
IFRS Foundation and the IASB
| Governance | Due process |
|---|---|
Other organisations involved in financial reporting
| Global organisations | Regional and other organisations |
|---|---|
|
