White Paper

FRS 102- Sections 11 and 12

IFRS 102FRS 102, ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’, is the new financial reporting standard issued by the Financial Reporting Council. It will replace all of the current FRS and SSAP standards. This paper specifically focuses on Sections 11 and 12 covering accounting treatment and policies for financial instruments as well as hedge accounting application, including financial impact scenario analysis. The paper also covers practical factors that need to be taken into consideration when setting up a hedging program.

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