Financial Reporting Update for NFPs

Date: 28th July 2021
Time: 7:30am - 9:00am
Location: HLB Mann Judd Perth
RSVP Date: 23rd July 2021

During this breakfast session, HLB Mann Judd Audit & Assurance Partners Lucio Di Giallonardo and Danny Buckley, and Manager Milan Bogunovic, will look at a number of the Australian Accounting Standards Board (AASB) Financial Reporting developments and changes which will significantly impact organisations within the not for profit sector. As COVID-19 continues to impact NFPs in a number of ways, there are also existing accounting requirements which NFPs should take into consideration when preparing their financial statements.

Our speakers will cover the following matters specifically in relation to NFPs:

  • Update on the ability to continue producing special purpose financial reports.
  • Update on peppercorn lease accounting.
  • AASB 15 Revenue and AASB 1058 Income of Not-for-Profit Entities – lessons from the first year of implementation.
  • Accounting for Lease modifications (especially relating to COVID-19 incentives).
  • Some popular accounting misconceptions that we have experienced with our NFP clients.

A light breakfast will be provided.