Financial Statement Guidance

This area of Navigate IFRS Accounting contains detailed guidance on each area of the financial statements, based on the requirements of IFRS in the UK. Examples and insights are included throughout in grey tinted boxes as well as specific links to relevant paragraphs of the standard. Mind maps are provided to give a visual overview of the guidance, with links to particular topics.

Each section contains:

  • a quick overview of the requirements;
  • scope and key definitions;
  • recognition and measurement considerations;
  • presentation and disclosure requirements;
  • key differences to FRS 101 and FRS 102 highlighted where relevant;
  • exploration of current issues, including Covid-19 implications;
  • items discussed by IFRIC but not added to the agenda and planned future amendments; and
  • links to further useful resources such as real-life disclosure examples, disclosure checklists and training modules in Navigate eCPD.

Details of past updates are set out in What’s changed and planned future updates are in Stop press.

This area is maintained by our in-house technical experts, working with external reviewers