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
Technical helpsheet issued to help ICAEW members with practical tips on how to implement the revenue recognition amendments to FRS 102 introduced by the Periodic Review 2024.
ICAEW articles and features
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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.
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Accounting for environmental agreements
As environmental obligations reshape land use and development, new corporate reporting challenges are emerging. Kate Hardy, Director at Albert Goodman, examines the key accounting principles relevant to biodiversity and nutrient neutrality agreements.
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.
FRED 82: ICAEW’s initial views
ICAEW is broadly supportive of the Financial Reporting Council’s (FRC) draft amendments to UK GAAP but highlights areas that need further consideration, including the approach to lease accounting requirements and the proposed effective date.
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
Chapter on revenue in a guide to all aspects of UK auditing standards and UK GAAP accounting standards.
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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 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.
