| 2.1 | This section sets out the objective of financial statements of entities within the scope of this FRS and the qualities that make the information in the financial statements of entities within the scope of this FRS useful. It also sets out the concepts and basic principles underlying the financial statements of entities within the scope of this FRS. [AMD 200] |
| 2.1A | Although this section sets out the concepts and pervasive principles underlying financial statements, in some circumstances there may be inconsistencies between the concepts and principles in this section of the FRS and the specific requirements of another section. In these circumstances the specific requirements of the other section within the FRS take precedence over this section. |
| AMD 200 Amendment Paragraph 2.1 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 2.1 This section describes the objective of financial statements of entities within the scope of this FRS and the qualities that make the information in the financial statements of entities within the scope of this FRS useful. It also sets out the concepts and basic principles underlying the financial statements of entities within the scope of this FRS. |
|
|
Licence and copyright | © 2018, LexisNexis Group a division of Reed Elsevier (UK) Ltd. All rights reserved. |