UK GAAP Flashcards by Aiza Aslam | Brainscape

Q

what should listed companies prepare financial statements under?

A

international accounting standards

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Q

other companies should use ____________ to prepare financial statements

A

UK GAAP

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Q

UK GAAP compromises of…

A

Company Law - company produce FS in specific format, true and fair view
Accounting Standards - issues by FRC most important is FRS 102

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