UK GAAP 2019

Chapter 2FRS 101 – Reduced disclosure framework

• 1 INTRODUCTION
  • 1.1 Summary of FRS 101
  • 1.2 Effective date of FRS 101
    • 1.2.1 Amendments to FRS 101 incorporated into the March 2018 edition
    • 1.2.2 Amendments to FRS 101 issued in May 2018
  • 1.3 Statement of compliance with FRS 101
• 2 SCOPE OF FRS 101
  • 2.1 Definition of a qualifying entity
    • 2.1.1 Reporting date of the consolidated financial statements of the parent
    • 2.1.2 Definition of group and subsidiary
    • 2.1.3 Publicly available consolidated financial statements
    • 2.1.4 Non-UK qualifying entities
    • 2.1.5 Non-controlling interests
    • 2.1.6 Intended to give a true and fair view
  • 2.2 Use of the disclosure exemptions
  • 2.3 The impact of section 400 and section 401 of the CA 2006 on FRS 101
  • 2.4 Interim financial statements
• 3 TRANSITION TO FRS 101
  • 3.1 Companies Act restrictions on changes to FRS 101
  • 3.2 Consistency of financial statements within the group
  • 3.3 Transition from EU-adopted IFRS to FRS 101
  • 3.4 Transition from another version of UK GAAP or another GAAP to FRS 101
    • 3.4.1 The D16 election
    • 3.4.2 The D17 requirements
  • 3.5 The impact of transition on realised profits
• 4 MEASUREMENT DIFFERENCES BETWEEN FRS 101 AND EU-ADOPTED IFRS
  • 4.1 Positive goodwill and indefinite-life intangible assets
  • 4.2 Presentation of fair value gains and losses attributable to changes in own credit risk on financial liabilities designated at fair value through profit or loss in other comprehensive income
  • 4.3 Negative goodwill
  • 4.4 Contingent consideration balances ...