FRS 102 (2018) refers to the March 2018 version of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, which includes the triennial review amendments published in December 2017 and to FRS 102 (2015), the previous version published in 2015.The changes to FRS 102 apply for accounting periods beginning on or after 1 January 2019 with early adoption possible.

A contentious area of FRS 102 (2015) was the accounting for loans that are off-rate (ie, at below market rates or at zero rates of interest). The default treatment in Section 11 Basic Financial Instruments was that such loans should be discounted using a market rate of interest.