FRS 102 Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues set out the requirements for the recognition, derecognition, measurement and disclosure of financial assets and financial liabilities. Section 12 includes the requirements for derivatives and hedge accounting.
The requirements regarding financial instruments are set out as part of FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.
FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.
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Summarising the requirements of FRS 102 for basic and other financial instruments, this factsheet includes practical tips and illustrative examples.
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This factsheet outlines the key requirements of FRS 102 in respect of hedge accounting and includes practical examples on their application.
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This short guide outlines, and illustrates by example, the accounting requirements of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland applicable to loans that are provided interest free or at below-market interest rates, a common example of which are intercompany loans.
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.
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Technical helpsheet issued to help ICAEW members to understand aspects of hedge accounting under FRS 102.
This guide outlines the accounting requirements under FRS 102 when loan contract terms are renegotiated together with illustrative examples.
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Technical helpsheet issued to help members understand foreign currency translation under FRS 102.
