⌘K
FRS 102 Transition
Transition existing leases to FRS 102
1234
Modified Retrospective Approach
FRS 102 transition using the modified retrospective approach calculates lease liability at transition date without restating comparatives. Learn how Lease102 handles opening balances.
Setting Your Transition Date
The FRS 102 transition date determines when you first apply Section 20. For most UK SMEs this applies to accounting periods beginning on or after 1 January 2026.
Opening Balance Calculations
FRS 102 transition requires calculating opening lease liability and ROU asset at the transition date. Learn how Lease102 generates Day 1 transition balances accurately.
Transition Journal Entry
The FRS 102 transition journal recognises opening ROU assets, lease liabilities, and any retained earnings adjustment. Lease102 generates the complete transition journal entry.