UK & Irish GAAP 2025: Small Entities

by Steve Collings

Part of a series on 2025-26 UK & Irish GAAP. FRS 102 Section 1A Small Entities covers presentation and disclosure requirements for small entities. With the company size thresholds increasing in both the UK and the EU, it’s time to make sure you are up to date in this area.

This module will enable you to

  • Explore issues covered by FRS 102, Section 1A Small Entities
  • Discuss the impact of the periodic review in this area
  • Consider the concept of 'true and fair' in financial reporting
  • Recognise common disclosure issues in the financial statements of small entities

About the module

Small and medium-sized entities make up the majority of companies in the UK and Ireland. Due to increases to the company size thresholds in the UK and the EU, more entities will become eligible to prepare financial statements under a less onerous small companies' regime. Meaning that now is a great time to get to grips with the requirements in this area.

This short course covers the key issues of a ‘true and fair’ view and additional disclosures.

We also discuss how the impact of the Financial Reporting Council’s periodic review will be felt more by small entities in the UK. Following Brexit, the FRC is now able to require more disclosures from UK-based small entities and small limited liability partnerships.

Contents

  • Small entities

How it works

Author

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA’s Practice Network Panel.

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More in this series

Take a look more modules from the series: 2025 UK & Irish GAAP Updates

This course is only available as part of an accountingcpd licence.