This statistic presents the impact the new Financial Reporting Standard (FRS 102) has had on different areas of financial businesses in the United Kingdom, as of August 2014. The majority of respondents reported the most visible impact on the profit and loss account (45 percent of the sample) and on goodwill - in accounting (42 percent).
Which area(s) of your financial statements will be most affected by FRS 102
(new Financial Reporting Standard for United Kingdom and Republic of Ireland)
*The source adds following information: "119 individuals from a range of businesses in the financial services sector, including investment management, broking, banking, insurance and corporate finance firms participated in our 16th annual survey."
For this question respondents could choose as many categories of answer as applicable.
Context of the new Financial Reporting Standard can be found on Financial Reporting Council here.
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Smith & Williamson. (August 28, 2014). Which area(s) of your financial statements will be most affected by FRS 102 (new Financial Reporting Standard for United Kingdom and Republic of Ireland) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/327140/uk-financial-survey-frs-reporting/
Smith & Williamson. "Which area(s) of your financial statements will be most affected by FRS 102 (new Financial Reporting Standard for United Kingdom and Republic of Ireland)." Chart. August 28, 2014. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/327140/uk-financial-survey-frs-reporting/
Smith & Williamson. (2014). Which area(s) of your financial statements will be most affected by FRS 102 (new Financial Reporting Standard for United Kingdom and Republic of Ireland). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/327140/uk-financial-survey-frs-reporting/
Smith & Williamson. "Which Area(S) of Your Financial Statements Will Be Most Affected by Frs 102 (New Financial Reporting Standard for United Kingdom and Republic of Ireland)." Statista, Statista Inc., 28 Aug 2014, https://www.statista.com/statistics/327140/uk-financial-survey-frs-reporting/
Smith & Williamson, Which area(s) of your financial statements will be most affected by FRS 102 (new Financial Reporting Standard for United Kingdom and Republic of Ireland) Statista, https://www.statista.com/statistics/327140/uk-financial-survey-frs-reporting/ (last visited November 21, 2024)
Which area(s) of your financial statements will be most affected by FRS 102 (new Financial Reporting Standard for United Kingdom and Republic of Ireland) [Graph], Smith & Williamson, August 28, 2014. [Online]. Available: https://www.statista.com/statistics/327140/uk-financial-survey-frs-reporting/
