Tackle the latest reporting standards with FRS 101 and FRS 102 software
Financial reporting standards continue to evolve, and with the latest updates to FRS 102 — Financial Reporting Standard applicable in the UK and Republic of Ireland — taking effect from 2026, firms need to be ready. While the most significant upcoming changes relate to FRS 102, FRS 101 has also been subject to the FRC's annual review cycle. The latest FRS 101 amendments do not introduce changes in respect of new IFRS pronouncements but include limited drafting updates to improve clarity and maintain consistency with related UK GAAP amendments. The FRS 102 changes go beyond technical compliance. Updates to lease accounting, revenue recognition, and UK small entity disclosure requirements will affect financial statements, key performance indicators, and client conversations. For many practices, the challenge isn't understanding the standards — it's applying them consistently across clients while meeting tight reporting deadlines. That's where the right accounts production software makes the difference.
The upcoming FRS 102 changes are particularly important because they bring UK GAAP closer to international accounting principles in key areas, including revenue recognition and lease accounting. In practice, this means firms will need to consider changes influenced by IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases, even when preparing accounts under FRS 102 rather than full IFRS.
Confidence in applying FRS 101 and FRS 102
Thomson Reuters Digita Accounts Production is designed to support UK GAAP and IFRS reporting, including FRS 101 (IFRS with reduced disclosures) and FRS 102. Our solution helps you:
- Apply updated reporting requirements consistently across your client base
- Keep pace with regulatory change without rebuilding processes each year
- Produce compliant statutory accounts efficiently, even as disclosures evolve
- Maintain clarity and control across complex areas such as leases and revenue
As standards change, your software should evolve with them. Updates to Digita Accounts Production templates will be released in Summer 2026, supporting revised disclosure and presentation requirements and helping you apply changes consistently in practice.
Reduce complexity at year-end
Changes introduced under the latest FRS 102 update increase the level of judgement and preparation required, particularly for clients with leases, complex customer contracts, or additional disclosure obligations. Digita helps you stay in control by providing structured templates, clear workflows, and the tools needed to produce accurate accounts without unnecessary rework. This means less time navigating complexity at year-end, and more confidence in the outputs you deliver to clients.
Supporting you through ongoing regulatory change
FRS 101 and FRS 102 continue to develop, and your firm needs solutions that keep pace. Digita Accounts Production is part of the wider Digita Professional Suite, designed to support compliance workflows, streamline processes, and help you respond to changing regulatory requirements with confidence.
Learn more about the latest FRS 102 changes
Want a deeper understanding of what's changing and how it may affect your firm and your clients?
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Digita Accounts Production software helps UK accountants automate workflows, reduce administrative burden, and deliver maximum value to stakeholders, so you can spend less time reacting and more time adding strategic value to the business.
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FRS 101 and FRS 102 software for accountancy practices
Reduce the burden of financial reporting with automatic import and categorisation of trial balances and quick population of many sections of the IFRS-compliant report templates. Display the correct disclosure for IFRS, FRS 101 and 102 at the click of a button.
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