The Financial Reporting Council (FRC) in the UK has released two new factsheets aimed at assisting entities in the application of FRS 102 ‘The Financial Reporting Standard (FRS) applicable in the UK and Republic of Ireland’. These documents are intended to provide clarity on specific aspects of accounting standards. The first factsheet, FRS Factsheet 12 ‘Presentation of the financial statements’, details the options available to entities, including small entities, for presenting financial statements. It ...