Annual financial reporting: FY26 illustrative accounts
FRS 102 UK GAAP RESOURCESDownload our illustrative accounts to understand best practice in your financial reporting under UK GAAP.
FRS 102 is changing for periods beginning from 1 January 2026. The changes will principally impact revenue recognition and lease accounting.
It’s time get ahead of these regulatory changes.
Whilst the updates to FRS 102 will principally impact your reporting team (from processes to team workload), they will also impact the wider business, from procurement to your sales team.
Early planning means fewer surprises – and more control.
Our hub provides key information on the changes, insights from a variety of specialists, and details of our Implementation Toolkits that will help you navigate the changes with ease.
Considering using our revenue or lease accounting implementation toolkits?
How can we help?
The impact of adopting these amendments could be considerable.
To help navigate changes to revenue and lease accounting, we’ve developed a toolkit, designed to upskill your finance teams, build new processes and controls into ‘business as usual’, and help you through your year-end audit process for the first year of change.
The amendments to FRS 102 go beyond financial reporting and we’re well-equipped to support you to ensure a seamless transition.
This includes:
- how FRS 102 affects your debt covenants and facilitate discussions with lenders
- the implications for employee incentive plans
- deal-related factors such as earn-outs and pricing
- delivery and pricing structure of long-term revenue contracts
- the impact on your ability to make distributions
- performing systems reviews, mapping processes, and maintaining business-as-usual operations
- the tax implications and strategic planning necessary to optimise your financial outcomes
- reviewing your valuation methodologies for fair value measurement and lease discount rates
- intercompany trading balances and transfer pricing
Through this comprehensive approach, we’re committed to helping you navigate the complexities of the amended FRS 102 transition with confidence.
FRS 102
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