02/06/2026
Could your clients’ revenue recognition profile change under the new FRS 102?
The new five-step revenue recognition model is now taking effect and may alter when and how income is recognised for some businesses.
In his latest AccountingWEB article, FAB speaker Steven Collings highlights the key areas accountants need to understand, from performance obligations and contract modifications to variable consideration, licences and royalties.
Read the full article: https://www.accountingweb.co.uk/tax/hmrc-policy/frs-102-new-revenue-recognition-requirements
The periodic review amendments finalised by the Financial Reporting Council (FRC) in March 2024 have begun to take effect.