Name: 2020 Innovation Training Ltd
Address: Pinewood Business Park, Birmingham, B37 7HG, UK
Telephone: +44 (0) 121 314 2020
Price range: $

OBJECTIVES

This session will take a practical look at the new income recognition requirements for periods commencing 1 January 2026 under FRS 102. The session will contain worked examples and case studies to illustrate the points made.

KEY TOPICS

The session will cover the following, using worked examples and case studies to aid learning:

NEW FRS 102 and effective date
Current requirements
New revenue recognition requirements
Five-step model approach
Step 1: Identify the contract(s) with a customer
Step 2: Identify the performance obligations in the contract
Step 3: Determine the transaction price
- Variable consideration
- Sales-based or usage-based royalties
- Refund liabilities
- Sale with a right of return
- Time value of money
- Non-cash consideration
Step 4: Allocate the transaction price to the promises in the contract
Step 5: Recognise revenue when (or as) the entity satisfies a promise
Transition issues
Disclosure examples

WHO SHOULD ATTEND

This course is relevant for all those who will be preparing or advising on accounts prepared under FRS 102 (September 2024).

Training

Resources

Consultancy

Marketing

Partners

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