by Emily Fish, Director, Product Accounting | Nov 24, 2025
The US Financial Accounting Standards Board (FASB) recently completed its Post-Implementation Review (PIR) of ASC 842, the US lease accounting standard. While you may be focused on your own FRS 102 transition for operating leases, there are critical, high-cost lessons...
by FinQuery | Oct 3, 2025
The mandatory effective date for lease accounting changes to FRS 102, which will bring most operating leases onto the balance sheet, is set for 1 January 2026. With what feels like plenty of time, it’s tempting to push this transition to the bottom of the priority...
by Jonathan Grimes, Technical Accounting Consultant | Sep 15, 2025
The updates to Financial Reporting Standard 102 (FRS 102), set to take effect for accounting periods beginning on or after 1 January 2026, have many companies finding themselves in a state of financial transformation. The adjustments are meant to hold companies...
by Alex Knott, CPA, Solution Consultant, SOFTRAX & Rachel Reed, Team Lead, Technical Accounting Consultants | Jul 18, 2025
1. What is FRS 102? 2. Effective date of changes 3. Overhauling to align with global standards 4. Revised FRS 102 Section 20 vs. IFRS 16: Key comparisons in lease accounting 5. What this means for your organisation Impact and considerations 6. Next steps: Getting...
by Taylor Guthrie, Technical Accounting Consultant | Jun 18, 2025
In March 2024, the Financial Reporting Council (FRC) published the most significant revision to FRS 102 since its inception. The update, effective for accounting periods beginning on or after January 1, 2026, introduces a single accounting model for lease accounting...
by Nicole Heath | Jun 10, 2025
FRS 102 Lease Transition Guide: Your Step-by-Step Approach FRS 102 lease accounting is a game-changer for UK and Irish businesses. No more off-balance sheet operating leases—now, most lease obligations hit your balance sheet, demanding a deep understanding of assets...
