LATEST QUARTERLY MARKET UPDATE

FRS 102 Revised Seminar Brings South Yorkshire Finance Leaders Together

In collaboration with Shorts Chartered Accountants, we recently hosted a seminar for senior finance professionals from across the region.The event brought together a number of Finance Directors, Financial Controllers and senior leaders from across the region for a morning of insight, discussion and networking over breakfast. It was a pleasure to welcome so many familiar faces, alongside new contacts, reflecting the strength and depth of the Yorkshire finance community. The seminar was presented by Howard Freeman, Audit & Accounts Partner, and Andy Ryder, Corporate Finance Partner at Shorts. We are extremely grateful to both speakers for sharing their time and expertise, and for delivering a clear, practical overview of the forthcoming changes to FRS 102, which came into effect on 1 January 2026 and are expected to impact a significant number of UK businesses. The session explored what is changing and why, particularly in relation to lease accounting and revenue recognition, and considered what the updates mean in practice for finance teams and business leaders. The speakers also addressed the new reporting requirements under FRS 102, the potential impact on EBITDA and valuation methodologies, and the key considerations for organisations as they prepare for implementation. Rather than focusing purely on technical detail, the seminar encouraged broader discussion around readiness, communication with stakeholders and the commercial implications of the changes. This led to a highly engaged Q&A session, with attendees sharing perspectives and experiences from their own organisations. At Sharp Consultancy, we are committed to supporting the finance community beyond recruitment alone. Events such as this form part of our ongoing effort to create opportunities for connection, knowledge-sharing and professional development among senior finance professionals. We would like to extend our sincere thanks to Shorts for partnering with us on this event, and in particular to Howard and Andy for delivering such an informative and thought-provoking session. We are also grateful to everyone who attended and contributed to the discussion. We look forward to hosting further events in the coming months and continuing to work closely with our network of finance leaders across the region.If you would like to discuss how these changes may impact your finance team, or if you are considering strengthening your leadership function, please contact us for a confidential conversation.

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The jobs market is widely accepted as being one of the most obvious economic indicators. Unsurprisingly, the many hundreds of people that we have spoken to since COVID19 and lockdown began all ask what the market is like.

Whilst we can offer a longer and more articulate answer, during the initial weeks of lockdown it would be fair to say that ‘rubbish’ would have covered it quite succinctly. There are now, however, glimmers of hope emerging. By any normal measure it would hardly be described as buoyant but there are initial signs it has most definitely improved.

As we start to emerge from full-scale lockdown measures, here are some insights which we have seen over recent weeks:

1) Some companies began to get themselves in gear to re-open or extend opening even before the very slight reduction in lockdown restrictions were announced. Presumably they were confident that lockdown was going to be eased but either way, there was a palpable eagerness to get started.

2) Some roles that were on hold or suspended were released. With the majority of qualified accountants on three months’ notice, anyone hired within September or October would most likely not
actually join their new employer until the end of 2020 or early 2021. This time delay appears to have given some companies the confidence to go ahead with their plans.

3) The flow of brand new vacancies has increased which we can assume is for the same reason as point 2) above.

4) Unusually there is optimism and ‘talking the recovery up’. Typically, recovery from recessions are characterised by an ‘I’ll believe it when I see it’ attitude. Not now though.

5) Putting aside some sectors which very obviously will suffer more and for longer than most, there is a belief that there will be some considerable mid to longer term market opportunities if you get ready to exploit them.

6) The term ‘New normal’ is now often quoted and while ‘new normal’ does not mean we will be better in every way than the ‘old normal’, it seems to indicate a fresh start. ‘New normal’
keeps getting mentioned, not in a fearful way, rather in a new opportunity kind of way. Whilst this can seem a little strange as forced change is usually very off-putting, for so many, any expected improvement – even if it is in a different form to the past – is something that we can start to get very excited by.

All in all, a noticeable improvement and, on the basis that the jobs market is an economic indicator, surely is good news for all of us.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond CONTACT UStoday to discuss your recruitment needs with a member of our team.