What are the changes to FRS 102?

Home > What are the changes to FRS 102?

Major changes are coming to FRS 102 and we’re here to help you prepare.

Whether you’re a small business managing day-to-day accounts or a larger organisation overseeing complex leases and contracts, the upcoming reforms to FRS 102 will affect how you report, disclose and plan financially.

This is the most significant revision to UK GAAP in over a decade, and early preparation is the best way to protect your business from disruption.

If your business prepares accounts under FRS 102, talk to our team today to find out what these changes mean for you.

Preparing you for the future of reporting

From leases and revenue to fair value and supplier finance, the updates are wide-reaching.

Here’s how we can help you navigate them:

We advise on:

Revenue recognition – Helping you understand the new five-step model based on contract performance
Lease accounting – Preparing you for the on-balance-sheet approach to almost all leases
Fair value measurement – Applying updated guidance aligned with international standards

Supplier finance disclosures – Ensuring you meet new transparency requirements
Company size thresholds – Helping you determine how your filing obligations may change

A clear plan for complex change

We know that keeping on top of regulatory change can be time-consuming but it doesn’t have to be confusing.

Our expert team will explain what’s changing, how it affects your business, and what you need to do next.

We’ll help you assess the impact, update your policies and prepare your financial statements for the new rules.

Let us take care of the technical detail, so you can stay focused on growing your business.

Supporting you through the transition

We work with businesses of all sizes, offering practical, tailored advice that makes compliance straightforward and stress-free.

We’ll work alongside you and your existing team to make sure your business is fully prepared for accounting periods affected from January 2026 onwards.

Speak to our team today and get ready for the new era of UK GAAP.

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