UK GAAP 2019

Chapter 6Presentation of financial statements

• 1 INTRODUCTION
  • 1.1 Applicability to UK companies, LLPs, and other entities
  • 1.2 Irish companies
  • 1.3 Other entities
• 2 SUMMARY OF FRS 102'S PRESENTATION REQUIREMENTS
• 3 COMPOSITION OF FINANCIAL STATEMENTS
  • 3.1 Key definitions
  • 3.2 Objectives of sections in FRS 102 addressing presentation of financial statements
  • 3.3 Interim financial reports and segmental reporting
    • 3.3.1 Interim financial reporting
    • 3.3.2 Segmental reporting
      • 3.3.2.A Segmental disclosures of turnover
  • 3.4 Frequency of reporting and period covered
  • 3.5 Components of a complete set of financial statements
  • 3.6 Comparative information
    • 3.6.1 Comparative information for narrative and descriptive information
    • 3.6.2 Consistency of, and reclassifications of comparative information
  • 3.7 Identification of the financial statements
  • 3.8 Statement of compliance
    • 3.8.1 Statement that financial statements have been prepared in accordance with applicable accounting standards
    • 3.8.2 Statements of Recommended Practice (SORPs)
• 4 COMPANY LAW FORMATS
  • 4.1 Required formats – balance sheet and profit and loss account
    • 4.1.1 Individual financial statements
    • 4.1.2 Consolidated financial statements
    • 4.1.3 Adapted formats
  • 4.2 Which formats should be applied?
    • 4.2.1 UK companies and LLPs applying FRS 102 (but not Section 1A)
    • 4.2.2 Definition of banking company and banking group
    • 4.2.3 Definition of insurance company and insurance group
    • 4.2.4 Qualifying partnerships (not applying Section 1A)
    • 4.2.5 ...