FRS 101 – Reduced Disclosure Framework (UK GAAP)

Looking to simplify financial reporting while staying compliant with IFRS? This video dives into FRS 101 – Reduced Disclosure Framework, which allows qualifying entities to prepare financial statements in accordance with adopted IFRS, but with significant disclosure exemptions under UK GAAP.

📌 In this video, you’ll learn:

What is FRS 101 and who qualifies to use it

The benefits of using the reduced disclosure framework

How FRS 101 aligns with IFRS recognition and measurement, while easing the disclosure burden

Key disclosure exemptions available under FRS 101

Eligibility criteria and how to assess whether an entity can apply FRS 101

How to notify shareholders and make necessary disclosures when adopting the standard

Practical insights on transitioning from full IFRS or other frameworks to FRS 101

FRS 101 is widely used by subsidiaries of UK-listed groups looking to reduce reporting complexity without compromising on IFRS compliance. If you're involved in preparing group accounts, this video is a must-watch.

📘 Based on current guidance from the Financial Reporting Council (FRC) and the latest UK GAAP updates.

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