On 1 October, the Ulster Society hosted an update on FRS 102 with Professor Robert Kirk. This event concentrated largely on the three major changes that have been introduced in the March 2024 major update to FRS 102.
This webinar provided a brief insight into the major developments made to the standard.
In particular it concentrated on the following topics:
1. The death of the operating lease for lessees
2. The introduction of the 5 step model for reporting revenue
3. The major amendments to the basic principles in Section 2 of the standard
4. A brief discussion of the other changes being implemented in FRS 102
5. The likely changes being proposed in FRED 87 on the presentation of the performance statements
A recording of this webinar is available to view, for free and on demand, HERE
A copy of Professor Kirk's slides are available to view
HERE
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