Tag Archives: Financial Instruments

FRC Staff Factsheets on FRS 102

Suite of seven staff factsheets issued in December 2018 The Financial Reporting Council (FRC) has issued a suite of seven staff factsheets in December 2018 on aspects of FRS 102, including the 2017 triennial review. These become effective from 1 January 2019, with early adoption allowed under certain conditions. They are available here: Fact Sheet… Read More


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FRS 102 – Interim relief for Treatment of Directors’ Loans

FRS 102 – Interim relief for Treatment of Directors’ Loans by John McCarthy On Monday 8 May 2017, the Financial Reporting Council (FRC) issued a press release on director’s loan reporting for small companies. It has announced that it is withdrawing the requirement to find a market rate of interest where a loan is made… Read More


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Inter-Company and Directors’ Loans and the impact of FRS 102

Groups, stand alone companies and company directors may have, in the past, relied on informal arrangements and verbal agreements. They may now wish, as a result of the rule changes in FRS 102, to introduce more formal documentation to ensure their intentions are reflected in the contractual terms and in the accounting, so as to… Read More


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Nine Key Differences Between Current Irish/UK GAAP and FRS 102

  Nine Key Differences Between Current Irish/UK GAAP and FRS 102 Introduction   The article examines the more common areas of difference between the existing Irish/UK GAAP i.e. the existing FRSs/SSAPs and UITF (Urgent Issues Task Force) pronouncements and new Irish GAAP. The new Irish/UK GAAP is called FRS 102 and it comes into force… Read More