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FRS 101: ten things you need to know about reduced disclosure accounting

The reduced disclosure reporting in FRS 101 Reduced Disclosure Framework has a number of advantages over full-blown FRS 102, particularly for subsidiaries of groups. Helen Lloyd FCA assesses the pros and cons of opting for this approach

The new reduced disclosure framework in FRS 101 may be the less glamorous new UK GAAP cousin of FRS 102 Financial Reporting Standard applicable in the UK & Ireland, but it still has a number of interesting features, not all of which are widely appreciated.

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