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FRS 102 explained: key changes and what they mean for your business

FRS 102 is changing, is your business ready?

02 March 2026

FRS 102 is changing - are you ready?

With the revised FRS 102 now in effect for periods beginning 1 January 2026, finance teams must prepare for significant changes to revenue and lease accounting and prioritise the practical implications in their first reporting period.

In our on‑demand FRS 102 webinar, Bishop Fleming’s experts cut through the complexity to explain what’s changing, why it matters, and what you should be doing now.

Watch our webinar below to learn more:

Explore our Financial Reporting hub

Visit our Financial Reporting Hub for the latest updates on FRS 102 and commentary to help you navigate financial reporting with confidence.

Need advice on FRS 102?

Understanding the rules is one thing; applying them correctly is another. Bishop Fleming supports businesses with impact assessments, transition planning and practical implementation of accounting changes.

Contact Bishop Fleming today to discuss how the FRS 102 updates could affect your business and how we can help.

Key contacts

Lucy Fairclough

Financial Reporting Partner

01217 261533

Email Lucy

John Talbot

Audit Partner

01225 486326

Email John

Related insights

How FRS 102 changes will affect owner-managed businesses in 2026
Changes to UK financial reporting standards: Lease accounting
Changes to UK financial reporting standards: Revenue recognition
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