Financial Reporting Exposure Draft (FRED) is a document issued by the Financial Reporting Council (FRC) for discussion and debate prior to the issuance of a Financial Reporting Standard (FRS).
A comprehensive overview of the Financial Reporting Standard (FRS), a set of standards developed by the Accounting Standards Board and Financial Reporting Council to guide financial reporting practices in the UK and Republic of Ireland.
The statement of comprehensive income, as defined by the IFRS and applicable FRS in the UK and Republic of Ireland, presents a complete picture of a company's financial performance beyond the traditional income statement.
