FRS 102: Resource hub
Your essential guide to managing the changes to FRS 102
Significant changes to FRS 102 are now in force impacting large businesses and SMEs.
Here we bring together our latest guidance, sector insights, and events to help you understand what’s changed, how to comply, and what the new standards mean for your business, your financial statements, and your strategic decisions.
You can also watch our FRS 102: Beyond compliance webinar to gain practical, expert-led insight into the changes and what they mean for your organisation.
Key contacts
Graham Gardner CA(SA)
Audit Partner (Head of Audit Quality)
Email Graham
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Emily Baldwin FCCA
Accounts Director and Head of the Financial Reporting Team (FRT)
Email Emily
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Changes to your accounts: FRS 102 and the impact on businesses
The 2026 updates to FRS 102 introduce the most significant changes to UK accounting standards in more than a decade.
With new rules affecting revenue recognition, lease accounting and financial disclosures, businesses should understand how the changes could impact their reporting, KPIs and future planning.
What creative, media and technology businesses need to know
The 2026 changes to FRS 102 will have important implications for businesses in the creative, media and technology sector.
New rules on revenue recognition and lease accounting could affect how contracts are assessed, when income is reported and how key financial metrics are presented. Understanding the sector-specific impact now can help businesses prepare for a smoother transition.
What professional services firms need to know
The 2026 changes to FRS 102 could significantly affect professional services firms.
New revenue recognition rules will place greater focus on engagement terms, variable fee arrangements and the timing of income recognition. Firms that review their contracts, systems and processes early will be better prepared for the transition and its impact on profits and reporting.
What manufacturing businesses need to know
The 2026 changes to FRS 102 will have important implications for manufacturing businesses.
New rules on lease accounting and revenue recognition could affect how assets, liabilities and contract income are reported, with potential knock-on effects for KPIs, banking covenants and financial planning. Taking action now can help businesses prepare for a smooth transition.
What academy Trusts need to know
The upcoming changes to FRS 102 and the revised Charities SORP will have important implications for academy trusts.
New requirements affecting leases, income recognition and trustees’ reporting could change how trusts present their finances and demonstrate impact. Early planning will help finance teams and trustees prepare for a smooth transition.
What charities need to know
The introduction of the revised Charities SORP 2026, updated financial thresholds and a refreshed Charity Governance Code marks a significant period of change for the charity sector.
New requirements affecting financial reporting, trustees’ annual reports and governance will impact charities of all sizes. Understanding what’s changing now can help trustees and finance teams prepare with confidence.