FRS 102 Accounts Preparation London
Expert Financial Reporting Standard 102 (FRS 102) accounts preparation for medium and large companies under UK GAAP. Our team has extensive experience in FRS 102 compliance and accounts preparation.
FRS 102 Accounts Preparation
Financial Reporting Standard 102 (FRS 102) accounts preparation for medium and large companies under UK GAAP. FRS 102 is the main UK accounting standard for companies that are not eligible for micro-entity or small company exemptions. Our team has extensive experience in FRS 102 compliance, ensuring your accounts meet UK GAAP requirements while optimising presentation and disclosure.
What is FRS 102?
FRS 102 (The Financial Reporting Standard applicable in the UK and Republic of Ireland) is the main UK accounting standard for companies reporting under UK GAAP. It applies to:
- Medium-sized companies (turnover over £10.2m, balance sheet over £5.1m, or employees over 50)
- Large companies (turnover over £36m, balance sheet over £18m, or employees over 250)
- Companies that choose to adopt FRS 102 voluntarily
- Groups of companies preparing consolidated accounts
FRS 102 Accounts Preparation Services
- Full FRS 102 accounts preparation in accordance with Financial Reporting Standard 102
- FRS 102-compliant financial statements including profit & loss account, balance sheet, cash flow statement, and notes to the accounts
- FRS 102 disclosure requirements including accounting policies, notes to the accounts, and other required disclosures
- FRS 102 consolidation for groups of companies, including elimination of intercompany transactions and consolidation adjustments
- FRS 102 transition services for companies moving from old UK GAAP to FRS 102
- FRS 102 compliance reviews and assurance on FRS 102 reporting
FRS 102 Key Requirements
Our team has extensive experience in applying key FRS 102 requirements:
- Section 11 (Basic Financial Instruments): Accounting for financial instruments under FRS 102
- Section 18 (Intangible Assets): Intangible asset recognition and measurement
- Section 19 (Business Combinations): Accounting for business combinations and goodwill
- Section 20 (Leases): Lease accounting under FRS 102
- Section 23 (Revenue): Revenue recognition under FRS 102
- Section 28 (Employee Benefits): Pension and employee benefit accounting
FRS 102 vs FRS 105
Understanding the differences between FRS 102 and FRS 105 (for micro-entities) is important:
- FRS 102 applies to medium and large companies, while FRS 105 applies to micro-entities
- FRS 102 has more extensive disclosure requirements than FRS 105
- FRS 102 requires a cash flow statement, while FRS 105 does not
- FRS 102 allows more accounting policy choices than FRS 105
Why Choose Acumon for FRS 102 Accounts?
- Extensive experience in FRS 102 accounts preparation across diverse industries
- Deep understanding of FRS 102 standards and their practical application
- Expert knowledge of FRS 102 consolidation requirements for complex group structures
- Efficient, accurate preparation that meets regulatory deadlines
- Clear, transparent reporting tailored to your stakeholders' needs
- Ongoing support and advice on FRS 102 matters and regulatory changes
Integration with Other Services
Our FRS 102 accounts preparation services integrate seamlessly with our other services:
- FRS 102 Audit Services - FRS 102-compliant audits for FRS 102 accounts
- Consolidated Accounts Preparation - FRS 102 consolidation for groups
- Accounts and Bookkeeping Services - Supporting bookkeeping for FRS 102 reporting
- Tax Advisory Services - Tax planning aligned with FRS 102 reporting
Next steps
Get in touch with our FRS 102 accounts team to discuss your FRS 102 reporting requirements. Our experienced team will provide expert FRS 102 accounts preparation services tailored to your business needs.