There’s a lot going on that businesses are preparing for; in fact, we are embarking on a period of frenetic activity in UK financial reporting, one that is likely to put significant strain on finance teams as the consequences of change – research, learning, headaches and solutions – all add their weight to business as usual.

The combination of new UK GAAP transition at entity level, with its myriad competing priorities, and new International Financial Reporting Standards (IFRS) at group level, such as IFRS 15, Revenue from Contracts with Customers, and, further down the track, IFRS 9, Financial Instruments, and possibly IAS 17, Leases, is going to keep those in finance leading one-off change projects until at least 2018.