Applies to: Ireland, United Kingdom, and Northern Ireland - Company accounts
Effective from: 1 January 2026
Financial Reporting Standards: FRS 102 (including Section 1A) and FRS 105
Overview
BrightAccountsProduction now includes an enhanced revenue accounting model that aligns with the latest guidance from the Financial Reporting Council (FRC). This update introduces the five-step model for revenue recognition for accounting periods commencing on or after 1 January 2026.
This enhancement ensures your accounts remain compliant with current financial reporting standards and provides comprehensive revenue-related disclosures throughout your accounts.
Prerequisites
Before you can use this feature, ensure the following requirements are met:
1. Jurisdiction Requirements
Your company's Country of Incorporation must be one of the following:
- Ireland
- United Kingdom
- Northern Ireland
2. Financial Reporting Standard
Your company must use either:
- FRS 102 (including Section 1A), or
- FRS 105
3. Compliance Database Configuration
You need to enable the new revenue accounting option in your Compliance Database:
Steps to enable:
- Navigate to Compliance Database
- Go to Legislation, Compliance and Disclosure
- Select Accounting Options
- Enable the checkbox: "Follow FRS 102 Revenue and Lease Accounting Standard for Accounting Periods Commencing on or After 1 January 2026"
What This Feature Provides
Once enabled, BrightAccountsProduction will:
New Accounting Policy Section
A dedicated Revenue Accounting policy section will be available under Accounting Policy. This section automatically reflects your selected financial reporting standard (FRS 102 or FRS 105).
Automatic Revenue Disclosures
The system automatically presents all required revenue-related disclosures throughout your accounts, ensuring full compliance with the selected financial reporting standard.
Five-Step Revenue Recognition Model
Your accounts will reflect the new five-step revenue accounting model as prescribed by:
- FRS 102 (for companies using this standard)
- FRS 105 (for companies using this standard)
The model is applied based on your selection in the Compliance Database options or through your nominal postings.
Frequently Asked Questions
Q: Do I need to do anything to my existing accounts?
A: This change applies to accounting periods commencing on or after 1 January 2026. For existing accounts with earlier periods, no action is required unless you choose to early adopt the new standard.
Q: Will this affect my current accounting setup?
A: The new module will only be applied if you enable the option in the Compliance Database. Your existing accounts remain unchanged until you activate this feature.
Q: What if I use a different financial reporting standard?
A: This enhancement is specifically designed for FRS 102 and FRS 105. If you use a different standard, this feature will not be available.
Additional Information
Further enhancements and updates related to the new revenue accounting module will be communicated in future releases.
For technical assistance or questions about implementing this feature, please contact your support team.
Last updated: November 2025
Version: 2025.11.0