The Financial Reporting Council (FRC) has issued revised editions of FRS 101, Reduced Disclosure Framework, and FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, to incorporate recently published amendments.
The August 2014 edition of FRS 101 updates the November 2012 edition to take into account Paragraph 1.14 of FRS 103 Insurance Contracts issued in March 2014; and amendments to FRS 101 Reduced Disclosure Framework (2013/14 Cycle) issued in July 2014.
The August edition of FRS 102 updates the March 2013 edition to make editorial amendments to section 11 Basic Financial Instruments and section 12 Other Financial Instruments Issues in relation to the presentation requirements for financial instruments issued on 19 March 2014; and section 35 Transition to this FRS in relation to the transitional exemptions for service concession arrangements issued on 19 March 2014.
The updated edition also takes into account amendments to FRS 102, Basic financial instruments and Hedge accounting issued in July 2014; and corrects some minor typographical errors.
The revised version of FRS 101 is available at https://frc.org.uk/Our-Work/Publications/Accounting-and-Reporting-Policy/FRS-101.pdf
The revised version of FRS 102 is available at https://www.frc.org.uk/Our-Work/Publications/Accounting-and-Reporting-Policy/FRS-102-The-Financial-Reporting-Standard-appli-(1).pdf