Revenue Recognition Changes under FRS 102 (1A)
For accounting periods beginning on or after 1 January 2026, amendments to FRS 102 (1A) introduce a revised approach to revenue recognition. The changes are intended to align UK GAAP more closely with IFRS 15. They provide a more consistent framework for recognising revenue from customer contracts. Although the concepts are not entirely new, many […]
New lease accounting rules are coming. Are you ready?
From 2026, lease accounting under FRS 102 is undergoing one of the most significant changes in recent years. For many businesses, particularly those with property leases, vehicles or equipment financing arrangements, this will have a material impact on reported assets, liabilities and performance metrics. If your business rents rather than owns, this matters. What […]