FRS 102: Understanding the changes

On Friday 16 May 2025, we held our FRS 102: Understanding the changes webinar.

The recent amendments to FRS 102, issued by the Financial Reporting Council on March 27, 2024, bring significant updates aimed at aligning FRS 102 more closely with International Financial Reporting Standards. Key areas of change include those to revenue recognition, leases, and fair value accounting.

These amendments will be effective for periods beginning on or after January 1, 2026, with early adoption permitted. This means businesses need to plan imminently for the changes coming. The session explores what these changes look like and what needs to be done to prepare, including how to manage the expectations of external users of the financial statements.

Agenda:

Overview of the changes to FRS 102

Panel discussion with the audit technical team around the upcoming changes and how to prepare

Real-world examples to illustrate the application of FRS 102

Why watch?

Expert insights: Hear from industry experts who will break down how the FRS 102 changes will impact your income statement and balance sheet.

Practical application: Learn about the steps you need to take to ensure compliance with the new accounting and manage key stakeholders.

We finished the webinar with an extensive question and answer segment, which enabled our attendees to ask their questions directly for the panel to answer.

If you would like to know more about amendments to FRS 102, or to discuss how we can support your organisation, please visit our website: https://www.krestonreeves.com/