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Welcome to the Accounting Standards Board Internet Site |
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This site provides a guide to accounting standards. For information on how to obtain them, and the ASB's other publications, see Publications.
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Small Companies |
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Companies that qualify as small under the Companies Act 1985, and other entities of similar size, are entitled to use the special accounting standard-
The FRS for Smaller Entities (FRSSE)
Those doing so are then exempt from applying other accounting standards and UITF Abstracts.
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UK GAAP in the Future
Change is coming for accounting standards in the UK. The current UK GAAP is set to be swept away and replaced with a new regime based around the IFRS for SMEs. While it is envisaged that FRSSE would remain for now, these radical changes could ultimately affect virtually all companies in the UK.
Read more about this event
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Publications |
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Click here to order publications available in hard copy from our publishers.
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