2026 sees the implementation of the FRC’s ‘periodic review’ with significant changes to rules on revenue aligning with IFRS 15 which affect companies applying FRS 102 and FRS 105. This course will explain the changes in detail and walk through the important steps required to ensure that companies comply with the new rules. Topics covered will include: 

• The 5-step model – how it applies in practice
• Identifying and allocating revenue to performance obligations
• Dealing with variable consideration
• Transitional adjustments – worked examples
• Tax implications of the changes
• Important disclosure requirements
• How the changes impact micro-entities applying FRS 105