FRS 102 Periodic Review 2024 - Revenue: Understanding the Transition Requirements

Introduction

The FRS 102 Periodic Review 2024 Amendments are effective for periods commencing on or after 1 January 2026. A new five-step model applies to revenue from contracts with customers, providing a more comprehensive framework for measuring and recognising revenue.

This bite-size session will help you choose the right transition approach and understand the impacts on implementation.

What You Will Learn

This webinar will cover the following:

• Understand the transition provisions and what they mean in practice
• Compare full retrospective vs modified retrospective
• Understand transition adjustments
• Disclosure requirements at transition