The faculty also produces factsheets, which provide in-depth analyses of specific accounting issues.
Topical issues
Exclusive
Planning for the 2024/25 reporting season
- Helpsheets and support
- 05 Dec 2024
This guide highlights new reporting requirements and areas of heightened relevance for the current reporting season, reflecting the “new normal” of ongoing uncertainty. It also outlines topics on the radar for the near future.
Exclusive
Planning for the 2023/24 reporting season
- Helpsheets and support
- 02 Jan 2024
A guide focusing on areas of heightened relevance for the current reporting season, highlighting new reporting requirements and the reporting impact of significant macroeconomic and geopolitical developments.
Periodic review of UK GAAP – FAQs
- Helpsheets and support
- 29 Apr 2024
The Corporate Reporting Faculty explains the purpose of the FRC’s periodic review of UK GAAP and provides an overview of the changes to FRS 102 and other standards.
Exclusive
Planning for the 2022/23 reporting season
- Helpsheets and support
- 08 Dec 2022
This guide sets out the areas of reporting that may require more attention than in previous years. It also considers the impact of an uncertain economic environment on the accounts.
Exclusive
How high inflation impacts accounting
- Article
- 05 Dec 2022
As inflation increases after a sustained period of low inflation, companies are now having to consider the impact high inflation has on their financial reporting and related uncertainties.
War in Ukraine: the corporate reporting implications
- Helpsheets and support
- 14 Mar 2022
This guide serves to highlight key areas of financial and non-financial reporting that companies might consider in light of the ongoing war in Ukraine.
Brexit: Implications of changes to company law on corporate reporting
- Helpsheets and support
- 14 Jun 2021
The end of the transition period brought into effect changes in company law that have an impact on the preparation of the annual report and accounts. This guide outlines some of the practical implications.
FRS 102
Exclusive
Statement of cash flows: common pitfalls and tips for reviewers
- Helpsheets and support
- 10 Jul 2024
Cash flow statements are consistently identified by the Financial Reporting Council as a “top 10” issue in corporate reports. This guide highlights how to avoid common pitfalls, and provides tips on how preparers can perform robust reviews to identify errors in the statement of cash flows.
Exclusive
Judgements and estimates
- Helpsheets and support
- 16 Feb 2024
Aimed at preparers of accounts under IFRS Accounting Standards and FRS 102, this guide looks at reporting requirements relating to the disclosure of key judgements and sources of estimation uncertainty.
Exclusive
Going concern considerations – a guide for FRS 102 preparers
- Helpsheets and support
- 06 Sep 2022
Factors to consider when doing a going concern assessment and the practical implications for financial reporting.
Loans at non-market rates under FRS 102
- Helpsheets and support
- 06 Jul 2022
This guide outlines the accounting requirements of FRS 102 applicable to loans that are provided interest free or at below-market interest rates, a common example of which are intercompany loans.
Exclusive
How to distinguish adjusting from non-adjusting post balance sheet events under UK GAAP
- Helpsheets and support
- 12 May 2022
This guide outlines the factors to consider when determining whether post balance sheet events are adjusting or non-adjusting in the accounts.
Renegotiating loan contracts under FRS 102
- Helpsheets and support
- 08 Jun 2021
This guide outlines the accounting requirements under FRS 102 when loan contract terms are renegotiated together with illustrative examples.
Accelerated Payment Notices
- Helpsheets and support
- 01 Oct 2017
In this FRS 102 Update, Financial Reporting Faculty staff answer some of your questions regarding APNs for corporation tax. Updated October 2017.
FRS 105
Exclusive
FRS 105: Micro-entities’ Accounts FAQs
- Helpsheets and support
- 28 Nov 2022
Frequently asked questions on the eligibility criteria, the main features of the micro-entities regime and how that compares with the small company regime.
Exclusive
Going concern considerations – a guide for FRS 105 preparers
- Helpsheets and support
- 06 Sep 2022
Factors for preparers of micro-entity accounts to consider when doing a going concern assessment and the practical implications for financial reporting.
Exclusive
How to distinguish adjusting from non-adjusting post balance sheet events under UK GAAP
- Helpsheets and support
- 12 May 2022
This guide outlines the factors to consider when determining whether post balance sheet events are adjusting or non-adjusting in the accounts.
IFRS
Exclusive
Statement of cash flows: common pitfalls and tips for reviewers
- Helpsheets and support
- 10 Jul 2024
Cash flow statements are consistently identified by the Financial Reporting Council as a “top 10” issue in corporate reports. This guide highlights how to avoid common pitfalls, and provides tips on how preparers can perform robust reviews to identify errors in the statement of cash flows.
Exclusive
Judgements and estimates
- Helpsheets and support
- 16 Feb 2024
Aimed at preparers of accounts under IFRS Accounting Standards and FRS 102, this guide looks at reporting requirements relating to the disclosure of key judgements and sources of estimation uncertainty.
Exclusive
IFRS 17 Insurance Contracts for non-insurers – do you have contracts that fall within its scope?
- Helpsheets and support
- 20 Feb 2023
This guide helps non-insurers determine whether, and to what extent, they may be affected by the standard.
Exclusive
Contract modifications under IFRS 9 Financial Instruments
- Helpsheets and support
- 07 Dec 2022
This short guide outlines the accounting implications of contract modifications to financial liabilities together with an illustrative example.
Exclusive
Modifications to revenue recognition under IFRS 15
- Helpsheets and support
- 18 Nov 2022
A guide to the accounting implications of changes to contracts with customers as a result of the pandemic.
Exclusive
Going concern considerations - a guide for IFRS reporters
- Helpsheets and support
- 06 Sep 2022
This guide summarises management’s responsibilities for assessing going concern and the associated practical implications for financial reporting under IFRS.
Exclusive
How to distinguish adjusting from non-adjusting events after the reporting period under IAS 10
- Helpsheets and support
- 23 May 2022
This guide outlines factors to consider when determining whether post balance sheet events are adjusting or non-adjusting in the accounts.
Exclusive
IFRS 16 Leases FAQs
- Helpsheets and support
- 12 Dec 2019
Financial Reporting Faculty outlines some of the key requirements of IFRS 16 Leases for lessees and lessors. Key differences when reporting leases under FRS 102 are also described.
Accounts filing
Exclusive
Filing requirements and defective accounts
- Helpsheets and support
- 18 Nov 2024
On this page the Corporate Reporting Faculty outlines the periods allowed for filing by UK companies and provides links to further guidance including on the filing options for UK small companies and micro-entities, and on the revision of defective accounts that have previously been published.
Micro-entities filing options FAQs
- Helpsheets and support
- 01 Nov 2023
This page answers frequently asked questions about the filing options for micro-entities.
Small company filing options FAQs
- Helpsheets and support
- 01 Nov 2023
This page answers frequently asked questions about the filing options for small companies.
Small LLPs filing options FAQs
- Helpsheets and support
- 03 Nov 2022
This page answers frequently asked questions about the filing options for small LLPs.
Technical Releases
Auditor remuneration technical release - TECH 01/22
- Technical release
- 25 Apr 2022
- PDF (482kb)
Updated guidance on the disclosure of auditor remuneration for the audit of accounts and other (non-audit) services which supersedes the guidance set out in TECH 14/13.
