FRS 102 v UK GAAP: The key differences | AccountingWEB

FRS 102 v UK GAAP: The key differences

The financial reporting overhaul is going to happen sooner than you think and represents the biggest change UK GAAP has seen.

To launch our new financial reporting channel, AccountingWEB technical editor Steve Collings outlines the key differences between existing UK GAAP and FRS 102.

Cash flow statement

There is no exemption from...


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Extremely informative and concise    1 thanks

NewACA | | Permalink


Thanks to Steve Collins.

jiatbanus | | Permalink

I've been waiting for someone to save me the trouble. Many thanks. Shades of RTI, I guess! Just what I needed; a redesigned wheel.  I do US and Singapore etc accounts and I already call spades shovels, among other "alternative nomenclatures".  

revaluation reserve effectively disappears ?

kiwilondon99 | | Permalink


on the take up of FRS102...the revaluation reserves stays on the balance sheet  ?

when the annual revaluation that takes place,  then goes via the profit and loss and ends up in the 'B/Sheet P&L Reserves' which then would make this a combination of distributable[earned and taxed] and non distributable[ unrealised gains /losses ]  how difficult would that be from a dividend availability perspective ...if correct

what happens to the Revaluation reserve that existed prior to FRS102 adoption ?



On transition    1 thanks

Steve Collings | | Permalink

It will be a transitional adjustment and be taken to the profit and loss account reserves.

Best wishes


On Transition

majuran | | Permalink


Could you tell me whether this would be a distributable or non-distributable reserve?