Accounting Standards

Accounting standards developed by the ASB are contained in 'Financial Reporting Standards' (FRSs). Soon after it started its activities, the ASB adopted the standards issued by the ASC, so that they also fall within the legal definition of accounting standards. These are designated 'Statements of Standard Accounting Practice' (SSAPs). Whilst some of the SSAPs have been superseded by FRSs, some remain in force.

Note: Some of the following links are to summaries only. To find out how to obtain full copies of any standards not on the website or hard copies of any standards please see publications.

Improvements to Financial Reporting Standards 2010

FRS 30 - Heritage Assets

Improvements to Financial Reporting Standards

FRSSE (effective April 2008) - Financial Reporting Standard for Smaller Entities

FRSSE (effective January 2007) - Financial Reporting Standard for Smaller Entities

FRS 29 (IFRS 7) 'Financial Instruments: Disclosures'

FRS 28 'Corresponding Amounts'

FRSSE (effective January 2005) - Financial Reporting Standard for Smaller Entities

FRS 27 - Life Assurance

FRS 26 (IAS 39) - Financial Instruments: Recognition and Measurement

FRS 25 (IAS 32) - Financial Instruments: Presentation

FRS 23 (IAS 21) - The Effects of Changes in Foreign Exchange Rates

FRS 22 (IAS 33) - Earnings per share

FRS 21 (IAS 10) - Events after the Balance Sheet Date

FRS 20 (IFRS2) - Share-based Payment

Amendment to FRS 5 'Reporting the Substance of Transactions': Revenue Recognition

FRSSE (effective June 2002) - Financial Reporting Standard for Smaller Entities

FRS 19 - Deferred Tax

FRS 18 - Accounting Policies

FRS 17 - Retirement Benefits

FRS 16 - Current Tax

FRS 15 - Tangible Fixed Assets

FRS 14 - Earnings per Share

FRS 13 - Derivatives and other Financial Instruments: Disclosures

FRS 12 - Provisions, Contingent Liabilities and Contingent Assets

FRS 11 - Impairment of Fixed Assets and Goodwill

FRS 10 - Goodwill and Intangible Assets

FRS 9 - Associates and Joint Ventures

FRS 8 - Related Party Disclosures

FRS 7 - Fair Values in Acquisition Accounting

FRS 6 - Acquisitions and Mergers

FRS 5 - Reporting the Substance of Transactions

FRS 4 - Capital Instruments

FRS 3 - Reporting Financial Performance

FRS 2 - Accounting for Subsidiary Undertakings

FRS 1 (Revised 1996) - Cash Flow Statements

Statements of Standard Accounting Practice (SSAPs)

SSAP 25 - Segmental reporting

SSAP 24 - Accounting for pension costs

SSAP 21 - Accounting for leases and hire purchase contracts

SSAP 20 - Foreign currency translation

SSAP 19 - Accounting for investment properties

SSAP 17 - Accounting for post balance sheet events

SSAP 15 - Status of SSAP 15

SSAP 13 - Accounting for research and development

SSAP 9 - Stocks and long-term contracts

SSAP 5 - Accounting for value added tax

SSAP 4 - Accounting for government grants