UK & Irish GAAP 2025: Periodic Review

by Steve Collings

Part of a series on 2025-26 UK & Irish GAAP. This short course outlines the periodic review process and the key changes made to some specific areas, including leasing, revenue recognition and small company disclosure requirements.

This module will enable you to

  • Discuss the FRC's periodic review and the key amendments
  • Work out which of your leased assets should move onto the balance sheet
  • Explain the new five-step model for revenue recognition in contracts with customers
  • Recognise updated presentation and disclosure requirements for small entities

About the module

Following the Financial Reporting Council's periodic review new UK and Irish financial reporting standards were published in September 2024.

All the standards have seen a significant amount of change with some requirements being clarified and others being updated completely. This short course examines the more notable amendments - those in the areas of leasing, revenue recognition and small company disclosure requirements.

Contents

  • Periodic Review

How it works

Author

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA’s Practice Network Panel.

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