FRS 102 Periodic Review 2024 - Section 20: Leases - The New Lease Model

Introduction

The FRS 102 Periodic Review 2024 Amendments are effective for periods commencing on or after 1 January 2026. Section 20 now requires lessees to adopt an on-balance sheet approach for most lease arrangements (in particular, property leases).

This bite-size session shows you how to identify leases, measure the lease liability and right-of-use asset and handle the key judgment areas.

What You Will Learn

This webinar will cover the following:

• The principles in the lessee accounting model (liability and right-of-use asset)
• Identify a lease
• Determine the lease term, considering renewal/break options
• Determine the discount rate (and understand the impact on measurement)
• Apply the available recognition exceptions
• Overview of the key disclosures - so your lease story is complete