Which version of the standard?
| Annual period | Effective version of the standard | Notes on amendments and early adoption |
|---|---|---|
| Starts on or after 1 January 2021 | FRS 104 Interim Financial Reporting (September 2024) |
This edition incorporates the Periodic Review 2024 amendments, which are not mandatory at time of publishing. |
Recent amendments
-
Amendments to FRS 102 and other FRSs – Periodic Review 2024
Mandatory date: Annual periods beginning on or after 1 January 2026. Earlier application is permitted.
The Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review 2024 include changes to FRS 104 and the Basis for Conclusions which improve consistency and clarity.
Summary
FRS 104 prescribes the minimum content for an interim financial report and the principles for recognition and measurement in such reports together with required disclosures.
The standard does not mandate which entities must prepare interim reports, or prescribe how frequently or how soon after the end of an interim period such reports should be issued.
Condensed versions of the main financial statements are required within an interim report, along with selected explanatory notes. Guidance is given within the standard for the measurement of items such as revenues affected by seasonality and income taxes.
Who should apply the standard?
FRS 104 is intended to be applied by those entities that apply FRS 102 and must prepare, or choose to prepare, interim financial reports. It may also be used as a basis for preparing interim reports by entities applying FRS 101.
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