FRSSE

FRSSE is a simplified UK accounting standard for small companies, and for small organisations that would be small companies is they were incorporated.

The definition of small companies is that used in the Companies Act.

The existence of FRSSE means that the UK has three sets of accounting standards:

1. FRSSE for smaller entities,
2. a more complex standard for larger organisations,
3. IFRS for listed companies.

Like other British accountings standards, FRSSE is issued by the ASB, which publishes details and updates on its website.