New UK GAAP 2015: Application of FRS 100-102 in the UK

Chapter 4 Presentation of financial statements

1 Introduction

2 Summary of presentation requirements of FRS 102

3 Composition of financial statements

   3.1 Key definitions

   3.2 Objectives of sections in FRS 102 addressing presentation of financial statements

   3.3 Interim financial reports and segmental reporting

       3.3.1 Interim financial reporting

       3.3.2 Segmental reporting

1. 3.3.2.A Segmental disclosures of turnover

   3.4 Frequency of reporting and period covered

   3.5 Components of a complete set of financial statements

   3.6 Comparative information

       3.6.1 Comparative information for narrative and descriptive information

       3.6.2 Consistency of, and reclassifications of comparative information

   3.7 Identification of financial statements

   3.8 Statement of compliance

       3.8.1 Statement that financial statements have been prepared in accordance with applicable accounting standards

4 Statement of financial position

   4.1 Information to be presented in the statement of financial position

       4.1.1 Required formats for the balance sheet

       4.1.2 Which formats should be applied?

1. 4.1.2.A UK companies
2. 4.1.2.B Definition of banking company and banking group
3. 4.1.2.C Definition of insurance company and insurance group
4. 4.1.2.D LLPs
5. 4.1.2.E Qualifying partnerships
6. 4.1.2.F Other entities required to prepare statutory accounts in accordance with Part 15 of the Companies Act 2006
7. 4.1.2.G Other entities

       4.1.3 Changes in formats

   4.2 Format ...