FRS 101 “Reduced Disclosure Framework” (link to FRC website) sets out the disclosure exemptions (a reduced disclosure framework) for the individual financial statements of subsidiaries, including intermediate parents, and ultimate parents that otherwise apply the recognition, measurement and disclosure ...
The FRC carries out an annual review of FRS 101 to provide additional disclosure exemptions as International Financial Reporting Standards (IFRS) evolve and to respond to stakeholder feedback about possible improvements to the standard. FRS 101 is an optional standard that is designed to enable cost...
New UK GAAP 2015 provides a comprehensive guide to interpreting and implementing the new UK accounting standards, particularly: FRS 100 – Application of Financial Reporting Requirements; FRS 101 – Reduced Disclosure Framework – Disclosure exemptions from EU-adopted IFRS for qualifying entities; and ...
Amendments to FRS 101 Reduced Disclosure Framework 2019/20 cycle Paragraph 8 of FRS 101 notes that the exemptions are available from when the relevant standard is applied. Therefore there is no need to amend the effective date for these amendments, which will be available for financial statemen...