| 4.1 | An entity shall present its financial position at the end of the reporting period. This section sets out the information that shall be presented in a statement of financial position and how to present it. The statement of financial position (which is referred to as the balance sheet in the Act) presents an entity's assets, liabilities and equity at the end of the reporting period. This section applies to all entities, whether or not they report under the Act. Entities that do not report under the Act shall comply with the requirements of this section, and with the Regulations (or, where applicable, the LLP Regulations) where referred to in this section, except to the extent that these requirements are not permitted by any statutory framework under which such entities report. [AMD 219] |
| 4.1A | A small entity applying Section 1A Small Entities is not required to comply with this section. [AMD 64] |
| AMD 219 Amendment Paragraph 4.1 amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text This section sets out the information that is to be presented in a statement of financial position and how to present it. The statement of financial position (which is referred to as the balance sheet in the Act) presents an entity's assets, liabilities and equity as of a specific date—the end of the reporting period. This section applies to all entities, whether or not they report under the Act. Entities that do not report under the Act should comply with the requirements of this section, and with the Regulations (or, where applicable, the LLP Regulations) where referred to in this section, except to the extent that these requirements are not permitted by any statutory framework under which such entities report. |
| AMD 64 Amendment Paragraph 4.1A added by Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland - Small entities and other minor amendments (issued July 2015) Effective date 01/01/2016 (Earlier application permitted subject to certain conditions - see paragraph 1.15) |
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