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IRIS accounts production will produce accounts for both defined benefit and defined contribution schemes. A client must be set up as type OTHER and the Pension schemes chart should be used. A small tutorial for a pension scheme can be found in Help / Tutorial and detailed notes regarding the pensions account chart can be found in the EPEN Chart of Accounts.
Pension SoRP 2018 is mandatory for all accounting periods commencing on or after 01/01/2019. However, early adoption is permitted.
FRS 102 1A does not apply.
The client screen used for Pensions to early adopt the latest SoRP can be found in:
Edit | Data Screens | UK (FRS 102) | SORP June 2018
The heading is now updated to Fair value hierarchy (rather than determination).
A new line item is included in the data screens to enter in 'Reverse repurchase agreements'.
This is to be shown in the note. Minor wording change to first
sentence 'has been disclosed'
(previously ..has been estimated).
Folder/contents within Data screen | Notes to Financial Statements folder has been amended to refer to Fair Value Hierarchy (levels only now apply, not categories).
Data screen | Statement of Net Assets | Investments | Other Investments | Other Investments .. has been amended to refer to Fair Value Hierarchy note (bold text under tick option)