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2026 FAMILY, PRIVATELY OWNED AND OWNER-MANAGED BUSINESS SURVEY

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Services

Financial Reporting Advisory

The value of specialist Financial Reporting

In a complex financial environment, your statutory accounts are more than a compliance obligation; they are a reflection of your business's health and a key tool for stakeholder engagement.

As accounting standards become more rigorous - particularly with the recent  updates to FRS 102 which became effective 1 January 2026 - internal finance teams often face a "technical gap." Our Financial Reporting Advisory service bridges that gap, providing the high-level expertise required to manage complex transactions while allowing your team to remain focused on day-to-day operations.

Key contact

Anna Pickup, Head of Financial Reporting

Anna Pickup

Head of Financial Reporting

Contact Anna

Our specialist services

We have a full financial reporting team dedicated to providing comprehensive support across the entire reporting lifecycle:

Financial statement preparation

Drafting full statutory accounts under FRS 102, FRS 101, and IFRS, ensuring every disclosure meets current legal requirements.

Complex group consolidations

Managing intricate group structures, including multi-currency consolidations and minority interests.

New standard implementation

Leading the transition to new accounting standards, including significant changes to FRS 102 effective for accounting periods beginning on/after 1 January 2026, particularly in the areas of revenue recognition and lease accounting.

Technical accounting papers

Drafting robust "position papers" to justify accounting treatments to auditors and regulators.

Distributable reserves reviews

Ensuring your dividend strategy is supported by legally compliant realised profits.

Audit readiness

Acting as a "pre-audit" partner to resolve technical hurdles before your auditors arrive, reducing time and cost.

Why Choose Armstrong Watson?

In an increasingly complex regulatory landscape, you need more than just a service provider; you need a partner who understands the nuances of your financial data.

Practical experts, not just theorists:

We don’t just quote the manual; we provide pragmatic solutions that work for your specific business model.

A technical bridge:

We speak the language of auditors. By preparing your technical files in advance, we minimise audit friction and potential adjustments.

Forward-looking guidance:

We don't just report on the past. We help you model the impact of future accounting changes on your balance sheet and bank covenants.

Integrated support:

Our reporting specialists work alongside our other specialist teams to ensure your accounts are optimised for every area of your business.

Navigating the 2026 reporting landscape

The 2026 reporting cycle represents a significant shift for UK businesses reporting under UK Accounting standards. The alignment of FRS 102 with international standards regarding Leases and Revenue means almost every balance sheet will change.

FD Insight: The move to "on-balance sheet" lease accounting can significantly alter key performance measures and ratios such as EBITDA, gearing and interest cover. We help you communicate these changes to your lenders and stakeholders on a timely basis.

Recent news stories

Frequently asked questions

Explore our frequently asked questions for expert insights into navigating the 2026 accounting standard changes and how our specialist reporting services can support your business.

Since leases are now recognised as liabilities on the balance sheet, your debt-to-equity and EBITDA ratios may change. We recommend  you discuss the impact of these changes with your lenders and how any debt covenants will be assessed. 

Yes. We manage the entire conversion process, including the "opening balance sheet" adjustments and the required reconciliations, ensuring a seamless transition for your investors.

Get in touch

Get in touch to speak to one of our specialist advisers and explore how we can help you.

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