Accounting Standards and Guidance

FRC Financial Reporting Standards (FRSs)

UK/Irish accounting framework (effective for periods beginning on or after 1 Jan 2015)

FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland

Section 8 Notes to the Financial Statements
Section 8 – Scope of this section
8.1 An entity shall present notes to its financial statements. This section sets out the principles underlying the information that shall be presented in the notes and how to present it. Notes contain information in addition to that presented in the statement of financial position, statement of comprehensive income (if presented), income statement (if presented), combined statement of income and retained earnings (if presented), statement of changes in equity (if presented), and statement of cash flows (if presented). Notes provide narrative descriptions or disaggregations of items presented in those statements and information about items that do not qualify for recognition in those statements. In addition to the requirements of this section, nearly every other section of this FRS requires disclosures that are normally presented in the notes. [AMD 250]
AMD 250

Amendment

Paragraph 8.1 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

8.1 This section sets out the principles underlying information that is to be presented in the notes to the financial statements and how to present it. Notes contain information in addition to that presented in the statement of financial position, statement of comprehensive income (if presented), income statement (if presented), combined statement of income and retained earnings (if presented), statement of changes in equity (if presented), and statement of cash flows. Notes provide narrative descriptions or disaggregations of items presented in those statements and information about items that do not qualify for recognition in those statements. In addition to the requirements of this section, nearly every other section of this FRS requires disclosures that are normally presented in the notes.
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