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 - revenue recognition
Helpsheet giving guidance on implementing FRS 102 revenue recognition changes introduced by the Periodic Review 2024. It covers transition options, identifying and assessing contracts, applying the five-step revenue model, managing reporting impacts, engaging lenders and auditors, and planning for compliance from 2026.
ICAEW articles and features
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A closer look at the changes to UK GAAP affecting small entities
Small entities reporting under Section 1A of FRS 102 face several new requirements following the Periodic Review 2024 amendments. Beyond the accounting changes for revenue and leases, we take a closer look at the revised disclosure requirements.
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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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.
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Auditing revenue – considerations for your next assignment
Audit firms may want to review their approaches to the audit of revenue as they prepare for the 2025/2026 reporting season. Andrew Paul outlines topical considerations and reminds firms of some recurring audit quality themes.
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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Revenue
A chapter on financial reporting of revenue recognition for unlisted companies in the UK and Republic of Ireland.
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Revenue
Chapter on revenue in a guide to all aspects of UK auditing standards and UK GAAP accounting standards.
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Revenue recognition
A full chapter on revenue recognition in this accessible introduction to the accounting rules relevant to tax computations in the UK.
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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Revenue
Guide from 2019 focusing on each area of the financial statement in detail with illustrative examples. This chapter on accounting for revenue gives a comparison of FRS 102 Section 23 and IFRS, and looks at measurement of revenue, identification of the revenue transaction, sale of goods, rendering of services, percentage of completion method, franchise fees, interest, royalties, dividends, construction contracts, disclosures, and practical implementation issues.
