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FRS 102: fair value

13 June 2017

Fundamental to FRS 102 is the concept of ‘Fair Value’. Fair value is the amount for which an asset, liability or equity instrument could be exchanged or settled between knowledgeable, willing parties in an arm’s length transaction. In some instances you may require expert advice to determine a fair value.

FRS 102: frequently asked questions

13 June 2017

Below are some answers to recent questions we've had around the changes to FRS 102.

FRC letter to investors highlighting recent changes and developments in reporting
Danielle Stewart OBE

The FRC has published an open letter to users of the financial statements in advance of the 2017 shareholder meeting season to help investors understand their suggested strategy.

FRC enquiries concerning company reports and accounts
Danielle Stewart OBE

The Financial Reporting Council (FRC) has published revisions to the Conduct Committee’s operating procedures for reviewing corporate reporting, effective 1 April 2017.

Will the IASB’s latest proposals make IFRS disclosures more effective?
Danielle Stewart OBE

Will the International Accounting Standards Board (IASB recent published Discussion Paper proposals make IFRS disclosures more effective?

FRS 102 – Directors’ loans – optional interim relief for small entities
Danielle Stewart OBE

18 May 2017

The FRC has published an interim relief from FRS 102 with immediate effect to give small entities an option to simplify the measurement of certain director/shareholder loans.

FRS 102 - triennial review – FRED 67 draft amendments
Danielle Stewart OBE

08 May 2017

On 23 March 2017, the Financial Reporting Council (FRC) issued FRED 67 Draft Amendments to FRS 102 - Triennial Review 2017 proposing incremental improvements and clarifications to FRS 102.

RSM welcomes early release of FRED 67
Danielle Stewart OBE

23 March 2017

In response to today’s statement from the Financial Reporting Council (FRC) regarding Financial Reporting Exposure Draft (FRED) 67 following the triennial review of FRS 102, Danielle Stewart OBE, Head of Financial Reporting at RSM shares her comments.

Accounting choices for small businesses
Danielle Stewart OBE

08 March 2017

The Financial Reporting Standard for Smaller Entities (FRSSE) has been withdrawn and small company size thresholds included within the Companies Act have risen for accounting periods commencing on or after 1 January 2016.

Fair valuing employee benefits in accordance with IFRS 2

29 November 2016

If you have issued share awards, share options or cash bonuses that have a value linked to a share price then you will need to assess their fair value in accordance with IFRS 2.