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When to prepare FRS101 accounts instead of FRS 102

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Hi, what are the conditions to consider before preparing an account either using FRS101 or FRS 102, please?

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By ireallyshouldknowthisbut
05th Oct 2020 11:54

When you have to.

Or the client (oddly) wants more disclosure publicly.

Would be my only two considerations.

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By RaxJ
05th Oct 2020 12:18

Is this a subsidiary of a parent company by any chance? You usually prepare FRS 101 accounts if you wish to adopt IFRS's with reduced disclosures. So a simplified IFRS format of accounts.

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By johnt27
05th Oct 2020 12:23

You'd use FRS 101 if you're a group company and want to utilise some of the disclosure/implementation exemptions from full blown IFRS.

It isn't mandatory and I have groups using both FRS 101 and FRS 102 sometimes in combination within their groups when headed by an IFRS preparer.

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By lionofludesch
05th Oct 2020 12:48

Another question with disappointing detail.

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Replying to lionofludesch:
By frankfx
05th Oct 2020 13:28


Another question with disappointing detail.


Could prepopulated the question dialogue box.

With suitable sections of detail for user to complete.

Now here comes the magic.

Should an OP fail to " fill the gaps".

Then Awebers can decline to respond, and refer OP back to the dialogue box.

There are too many threads where we are looking for the real Question.

I would like all OPs to make the source of their original research clear

It should be cited.

I suspect zero meaning ful research has been done.

As in the question posed by this OP.


Over to you.

You know it makes sense.

Thank you

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