The FRS Applicable in the UK and Republic of Ireland
FRS 102 is based on an amended version of the international framework, the IFRS for SMEs. For entities previously using the SSAPs and FRSs of the former UK GAAP, the new framework presented some significant reporting challenges, although it does offers some reprieve for those entities who are eligible to take the reduced disclosure option, and for others that are small enough to apply section 1A of the standard. At first glance FRS 102 looks very similar to the former UK GAAP, but the devil is in the detail and there are still many aspects of the standard that are not always correctly applied as they differ from former UK GAAP.
This course will explain the main reporting requirements for an FRS 102 user, including changes from the latest triennial review. It will identify and probe the accounting requirements and clarify the mandatory requirements that are often overlooked or misunderstood
The course is broken down into two 3-hour modules, allowing participants to book either one or both modules depending on their needs.