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FRSSE 2008
The updated FRSSE (effective April 2008) supersedes the FRSSE (effective January 2007) and may be used by small entities for accounting periods beginning on or after 6 April 2008. Earlier adoption is not permitted.
The Financial Reporting Standard for Smaller Entities (effective April 2008) updates and supersedes the FRSSE (effective January 2007). It should be regarded as standard for financial statements relating to accounting periods beginning on or after 6 April 2008. The FRSSE (effective January 2007) remains in force for financial statements relating to accounting periods beginning on or after 1 January 2007 and on or before 5 April 2008.
The FRSSE (effective April 2008) introduces no changes to the accounting requirements. The only difference between the FRSSE (effective April 2008) and the FRSSE (effective January 2007) are in respect of the legal requirements which have been updated to reflect the Companies Act 2006. Earlier adoption is not permitted.