The requirements relating to specific topics are set out as sections within FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.
FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.
ICAEW factsheets and guides
The Corporate Reporting Faculty's annual UK GAAP factsheets provide a more detailed discussion of recent UK GAAP amendments.
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Leases under FRS 102
Helpsheet explaining how to identify and account for leases under FRS 102, including what constitutes a lease, substance over legal form, separating lease and service elements, and key scope exclusions, with practical examples.
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FRS 102 amendments – section 1A
Helpsheet explaining the Periodic Review 2024 amendments to FRS 102 Section 1A, effective from January 2026. Key changes to FRS 102 Section 1A include expanded related party disclosures and consequential amendments to reflect changes to lease accounting, revenue recognition, share-based payments and taxation.
ICAEW articles and features
Don't wait for year-end: why charities should engage with the new Charities SORP now
The 2026 Charities Statement of Recommended Practice (SORP) introduced important changes to financial reporting, but, for many charities experiencing funding pressures, implementation risks slipping down the priority list. With constrained resources and growing operational demands, it can be tempting to postpone preparation until the year-end accounts process begins.
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Bringing leases on balance sheet: common pitfalls and issues
With the changes to lease accounting under FRS 102 now effective, this article, prepared by ICAEW’s Technical Advisory Service and Corporate Reporting Faculty, highlights some of the common practical issues preparers encounter on initial application.
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Auditing FRS 102: navigating key changes and risks
The periodic review amendments to FRS 102 represent one of the most significant changes to UK and Irish GAAP in recent years. What do the key changes mean for auditors, and where are risks likely to emerge, especially in this period of ongoing uncertainty?
2026: Changes to accounting standards and more
Whether you prepare accounts under UK GAAP or IFRS Accounting Standards, 2026 will bring new standards that accountants in business and practice need to prepare for. Plus, the UK government will be conducting a holistic review of the entire annual report.
Charities SORP announced: what’s changed?
Key changes to the Charities SORP include a three-tier reporting regime with increased disclosure and presentation requirements for larger charities. Changes to lease accounting and income recognition will present the greatest challenges.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.
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Sale and leaseback transactions
A chapter providing practical guidance on financial reporting of sale and leaseback transactions under FRS 102, section 20 and FRS 105, section 15.
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Leases
A chapter providing detailed practical guidance on financial reporting of leases under FRS 102.
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Leases
A chapter on accounting requirements for leases within FRS 102 and FRS 105, written by a specialist on small company reporting issues.
The ICAEW Library & Information Service provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.
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Leases
Guide from 2019 focusing on each area of the financial statement in detail with illustrative examples. This chapter gives a comparison of FRS 102 Section 20 and IFRS 16 and explains lease classification, accounting for finance leases, accounting for operating leases, modifications to leases, sale and leaseback transactions, and disclosures.
