by Des O'Neill | Jan 21, 2016 | FRS102.com Blog
Section 1: Scope Summary Section 1 deals with the scope of FRS 102 and the exemptions which can be claimed. What are the key points to note? FRS 102 is available for use by unlisted groups and listed or unlisted...
by Des O'Neill | Jan 20, 2016 | FRS102.com Blog
Section 2: Concepts and Pervasive Principles Summary Section 2 describes the objective of financial statements, which is to provide useful information about the entity’s financial position, performance and cash flows, and establishes the concepts and underlying...
by Des O'Neill | Jan 19, 2016 | FRS102.com Blog
Section 3: Financial Statement Presentation Summary Section 3 explains that the financial statements of an entity shall give a true and fair view, what a complete set of financial statements is and what compliance with FRS 102 requires. What is different? Under FRS...
by Des O'Neill | Jan 18, 2016 | FRS102.com Blog
Section 4: Statement of Financial Position Summary Section 4 deals with the presentation of the statement of financial position. The statement of financial position (also known as the balance sheet) presents an entity’s assets, liabilities and equity at the end of the...
by Des O'Neill | Jan 15, 2016 | FRS102.com Blog
Section 5: Statement of Comprehensive Income and Income Statement Summary Section 5 deals with the presentation of total comprehensive income for the reporting period. It allows presentation in one or two statements and sets out the information to be presented in...
