A change in accounting requirements can affect the figures your board, lenders and parent company rely on. Accendo helps established businesses, groups and charities assess FRS 102 reporting issues and prepare the analysis behind their accounts.
Identify the impact before preparing the accounts
Most Periodic Review 2024 amendments apply to accounting periods beginning on or after 1 January 2026. The period’s start date matters. Key areas include the revised revenue model, lessee accounting and fair value measurement guidance.
The effect depends on your contracts, leases and transactions. We help management identify the relevant changes, gather information and document judgements. For charities, the applicable SORP must also be considered.
Support with a defined output
- An assessment of the reporting issues relevant to your organisation.
- Accounting policy papers and supporting calculations for agreed areas.
- Revenue contract and lease information requirements.
- Financial statement preparation and disclosure support where agreed.
- Analysis of how changes affect reporting measures and related questions.
A focused technical project and a full accounts preparation engagement have different scopes. We agree the output your team needs, who will implement it and what is included in the fee.
Prepare evidence your team can explain
Bring the latest accounts, reporting period, significant contracts and a summary of unresolved questions. We identify information gaps and discuss significant accounting conclusions with management. If the accounts are audited, the supporting analysis should be available for the auditor’s independent assessment.
Management remains responsible for accounting decisions and approval of the accounts. Additional services for audit clients are assessed against applicable independence requirements.
Questions before you appoint
Will the 2026 changes materially affect every organisation?
No. The effect depends on the transactions and arrangements involved. A review should establish the impact rather than assume either a major change or no change.
Can you help with just one contract or lease issue?
Yes. We can discuss a defined accounting question and agree the analysis and implementation support needed. The available evidence and deadline affect the work.
Is FRS 102 reporting the same as IFRS group reporting?
No. Local statutory accounts and parent-company reporting can follow different frameworks. We establish the basis for each and identify any separately required conversion work.
Does the work include tax or covenant advice?
Not automatically. Changes may raise tax or financing questions, but those need their own assessment and agreed scope. Accounting analysis does not replace reviewing a lending agreement.
Further information and next steps
See the FRC’s FRS 102 information. Explore accounts preparation, IFRS reporting or charity audit.