Question: what is the difference between uk gaap and frs 102?
Answer: 'Old UK GAAP' refers to the SSAPs, FRSs and UITF Abstracts in existence at March 2013, when FRS 102 was issued, which are superseded by FRS 102 when it is applicable. 'New UK GAAP' refers to the version of FRS 102 applicable for accounting periods beginning on or after 1 January 2015.