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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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.
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Leases under FRS 102
Technical helpsheet to help ICAEW members understand key aspects of accounting for leases under FRS 102.
ICAEW articles and features
Charities and LLP SORPs 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.
Cash flow statements: the direct or indirect method?
As the International Accounting Standards Board embarks on a review of its cash flow statement accounting standard, accounting historian Professor Stephen A Zeff FCA (Honorary), Rice University, US, explores the use of the direct and indirect methods under different frameworks.
Preparing for the next Charities SORP: practical steps you can take now
The next iteration of the Charities Statement of Recommended Practice (SORP) is on the horizon, bringing with it some significant updates aligned with the revised Financial Reporting Standard (FRS 102). This article highlights the most significant changes and offers some practical tips on how charities can start to prepare.
Regulation: FRS 102
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.
Periodic Review 2024: leases
As part of the 2024 Periodic Review amendments, 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. We look at the details.
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Bringing leases on balance sheet: what you need to know
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.
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.
