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Section 1A of FRS 102 template

Section 1A of FRS 102 template

Can anybody point me towards an illustrative set of financial statements prepared under Section 1a of FRS 102?  

Are there any significant differences between Section 1a of FRS 102 and FRSSE 2015?

Many thanks



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Completely different

Hi Joe

FRS102 1a and FRSSE 205 are based on completely different UK GAAPs, so the differences will be significant. All FRS1021a is is the full recognition and measurement rules of FRS102 (so based on fair value accounting/holiday pay accruals/deferred tax on revaluations etc) but with reduced disclosure in the accounts.

You need to consider carefully firstly how the numbers will change moving from old to new UK GAAP before you then consider what the accounts will look like.

In terms of template accounts, for full FRS102 at my firm we invested in the PWC Manual of Accounting Illustrative examples books, which is brilliant. I am not sure there is a 1A example though so best try google.

Hope that helps


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