FRS 102: Major changes to revenue recognition
ReportExplore key changes to FRS 102 Section 23, including the new five-step revenue model and its impact on financial reporting in Ireland and the UK.
Neal was appointed as audit and business risk services partner in Grant Thornton in 2016. Prior to this he was an audit partner in a mid-tier practice for nine years, where he developed a broad client base. As well as delivering audit services Neal has experience of providing a range of business advisory services to his clients, particularly those in start-up or growth phases. He also has experience providing business risk services to a range of clients across the public and private sectors.
Neal has experience across a wide range of sectors with particular expertise in the construction, manufacturing and services sectors.
He also has significant public sector experience, having provided services to a number of health trusts, universities and other non-departmental public bodies.
Explore key changes to FRS 102 Section 23, including the new five-step revenue model and its impact on financial reporting in Ireland and the UK.
Explore key changes to small company disclosures under FRS 102 Section 1A, including UK GAAP updates on leases, tax, going concern and related parties.
On 27 March 2024, the Financial Reporting Council issued amendments to FRS 100 – 105 (known as GAAP, or Generally Accepted Accounting Practice), a suite of accounting standards applicable in the UK and Ireland. These are used by an estimated 3.4 million businesses in preparing their financial statements.