FRS 100 Application of Financial Reporting Requirements
FRS 100 sets out the financial reporting requirements for UK and Republic of Ireland entities. Financial statements (whether consolidated financial statements or individual financial statements) that are within the scope of this FRS must be prepared in accordance with the following requirements:
If the financial statements are those of an entity that is eligible to apply the Financial Reporting Standard for Smaller Entities (FRSSE), they may be prepared in accordance with that standard.
If the financial statements are those of an entity that is not eligible to apply the FRSSE, or of an entity that is eligible to apply the FRSSE but chooses not to do so, they must be prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, EU-adopted IFRS or, if the financial statements are the individual financial statements of a qualifying entity, FRS 101 Reduced Disclosure Framework.
References to FRS 102 will not have effect until FRS 102 has been issued by the FRC in 2013. Hard copies of FRS 100 will be available once FRS 102 is issued.
To obtain a hard copy of this publication, please go to www.frcpublications.com
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