FRS 102 reporters will need to record their most significant leases on the balance sheet. This video outlines what questions need to be answered when assessing whether a contract is, or contains, a lease.
As part of the Periodic Review 2024, the Financial Reporting Council has issued major amendments to Section 20 Leases of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The amendments will see lessees capture most leases on their balance sheet. Fahad Asgar looks at some of the detail.
Amendments to financial reporting standard FRS 102 will change how revenue is recognised and leases are accounted for. Grant Thornton’s Patrick O’Brien and Pinkesh Patel explain the impact on M&A valuations.
Building on the basics, this webinar provides technical insight into upcoming changes to lessee accounting arising from the Periodic Review 2024. Using examples, it explores more complex and judgemental areas of the new requirements and provides practical tips to prepare.
Held on 9 June 2025, the Corporate Reporting Conference 2025 brought together key voices from the standard-setter and experts in practice to explore the upcoming Periodic Review 2024 amendments, the most significant changes to UK GAAP in over a decade, set to become effective from 2026. Attendees also heard directly from the government, gaining insight into what’s coming next for the UK corporate reporting landscape.
Hosted in partnership with IRIS Software Group, this webinar explores practical considerations for implementing upcoming lease accounting changes to FRS 102. As well as an overview of the new requirements, insights are provided on the use of automated technology to streamline compliance.
With a focus on lessee accounting, this factsheet introduces the key changes to accounting for leases brought in by the Periodic Review 2024. It provides examples, practical tips and guidance.
An update on FRS 102 lease accounting changes effective from 1 January 2026, covering lease identification, measurement, exemptions, initial application examples, group considerations, and disclosure requirements.
