Multinational businesses and listed entities are under increasing pressure to report under International Financial Reporting Standards (IFRS), while UK and Irish SMEs face their own watershed moment with the 2024 amendments to FRS 102, which align UK GAAP lease and revenue accounting with IFRS principles for accounting periods beginning on or after 1 January 2026. Yet most Business Central implementations are built around local GAAP out of the box. So how do you bridge that gap without a costly reimplementation?

This session takes you inside real-world IFRS and FRS 102 implementations on Business Central, covering the strategic decisions, technical configurations, and workarounds that finance and ERP teams need to know. From designing a Chart of Accounts and leveraging dimensions for parallel reporting, to tackling the big standards [IFRS 15 Revenue from Contracts with Customers, IFRS 16 Leases, IFRS 9 Financial Instruments, and IAS 2 Inventory] you will leave with a clear, actionable roadmap.

IFRS 15 receives particular focus in this session. Revenue recognition under multi-element contracts, identifying performance obligations, allocating transaction prices, and determining the point or period of recognition is one of the most technically demanding areas of IFRS compliance, and one where Business Central's native capabilities and their limits are least well understood. We will walk through exactly how BC handles this, where configuration takes you, and where workarounds or extensions are needed.

For UK and Irish SMEs preparing for FRS 102 (2024), this session is equally relevant. The amended standard introduces IFRS 16-style lease accounting and IFRS 15-aligned revenue recognition into UK GAAP for the first time; meaning the same Business Central configuration challenges now apply to thousands of unlisted companies who may not yet realise it.

Whether you are a finance leader evaluating IFRS or FRS 102 readiness, a functional consultant configuring the system, or a developer exploring extension options, this session gives you the confidence to move from compliance anxiety to delivery.