CPDStore Ireland

Major revisions have been published to FRS 102 and 105 with an introduction date from 1st January 2026. This will impact the preparation of financial statements for all non-listed companies in Ireland. Some of the changes are fundamental (particularly on leasing) and this could impact the ability of companies to meet bank covenants.

Robert Kirk will cover the following topics during this session:

• The incorporation of the recognition and measurement rules of IFRS 16 Leases into FRS 102
• The abolition of operating leases for lessees
• Understanding the distinction between a lease agreement and a service contract
• How to deal with a change in economic incentives on asset and liability recognition
• How to account for modifications of existing leases

By attending this session, it should enable delegates to kickstart their clients well in advance to understand the likely impact the changes will have in preparing their financial statements under the proposed new rules.

The session will be of most interest to preparers of financial statements under FRS 102 as well as their auditors.

The entry level subject would be at an intermediate level as delegates should have a reasonable understanding of the existing requirements in FRS 102 and 105. It also represents knowledge that all financial accountants need to know.

Course Level: Advanced