Financial Reporting Standard
noun[C]
ukus(abbreviationFRS)ACCOUNTING
one of a set ofrulescreatedby the Accounting Standards Board thatstatehow a company'sfinancialinformationhas to beshown:
Thereportassumesthat Financial Reporting Standard 3, Reporting Financial Performance, has been put intoeffect.
Compare
Generally Accepted Accounting Principles
See also
International Financial Reporting Standard