Preparers drastically underestimated the time needed to prepare accounts under FRS 102. Technical Partner at Kingston Smith, Tessa Park looks at the impact that FRS 102 has had so far. As with all transitions, the move from UK GAAP to FRS 102 has been far from plain sailing and has included considerable and, in some respects, unanticipated increases in the workloads of preparers and their advisers. As ever, preparation has been key. FRS 102 has been in the works for around four years, and its current iteration has been largely unaltered over the past two years.