FRS 101 - The Reduced Disclosure Framework


FRS 101 is a key element of the UK GAAP regime which has been in place since 2015. It permits certain entities, notably parents and subsidiaries in groups preparing IFRS consolidated financial statements, to prepare their statutory accounts using IFRS recognition and measurement principles (subject to a few exceptions) but with reduced disclosure requirements.

This course provides an overview of the requirements of FRS 101, a summary of the disclosure exemptions, identifies the recent updates to FRS 101 and considers the practical implementation issues associated with its adoption.

Learning outcomes:

On completion of this course, you will have a greater understanding of:

  • Determine which entities are eligible to apply FRS 101
  • Prepare financial statements under the requirements of FRS 101

Course Content:

  • Review of the UK reporting regime
  • Overview of FRS 101
  • Scope of FRS 101
  • Summary of disclosure exemptions
  • Accounting differences between IFRS and FRS 101

Authored by: Bruce Cowie

Bruce Cowie is the Head of Financial Reporting Programmes at BPP Professional Development. He has been training full time in Financial Reporting topics since 1985, and has an expertise in IFRS, UK GAAP and US GAAP.

He has trained across the world (e.g. USA, Europe, APAC, Australia, Argentina) for large multinationals, small and medium sized companies, accounting firms, professional bodies and Government entities, and still maintains a genuine love for his subjects. He has spent a considerable time in training firms for the transition to IFRS and to the new UK GAAP.

A CPD certificate of completion will be provided by BPP Professional Education Limited upon successful completion of the online course.

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price: £35.00 (excludes VAT)