This is the sixth in a series of articles offering practical guidance for practitioners and finance teams preparing for their first set of financial statements under revised UK GAAP (effective for periods beginning on or after 1 January 2026).

Briefing stakeholders beyond the finance team is a critical requirement of a well-run UK GAAP (2024) transition – not an optional extra. The revised standards change how leases, revenue contracts and certain employee arrangements are accounted for, and the people who negotiate and manage those arrangements are not usually in the finance team.

Commercial and sales teams: revenue terms, contract structures, pricing