The impact of revised ASA 540 on management
This revision has important implications not just for auditors but for those responsible for financial statement preparation.
This revision has important implications not just for auditors but for those responsible for financial statement preparation.
SaaS is fast becoming mainstream. As entities move away from on-premise software to SaaS arrangements, they should be mindful of the accounting implications.
ASIC has announced a one-month extension of financial report lodgement deadlines. Specifically, the extension applies to listed and unlisted entities.
The International Accounting Standards Board (IASB) has approved a one-year extension to the practical expedient for COVID-19-related rent concessions allowed under IFRS 16 Leases.
A look back at the trends and focus areas that have arisen in 2020 for NFP board members and governance professionals.
The 30 June reporting season has arrived as it always does, and promises to be unlike any reporting season we have previously experienced. COVID-19 presents unique challenges for businesses, and while its impact is pervasive, the effects of the pandemic will differ across sectors, geographic locations and individual entities.
The IASB has offered some practical relief to simplify the accounting for changes to lease arrangements that are directly linked to the pandemic.
The Prime Minister announced in a media statement a set of “principles” to assist landlords and tenants in commercial tenancies. It is encouraging commercial tenants, landlords and financial institutions to assist businesses to survive during these difficult times.
The question many clients ask is whether an Excel spreadsheet model is adequate for accounting under AASB 16, or whether it is necessary to use a leasing software.
The Bottom Line aims to keep you in the loop with all the latest accounting and financial reporting developments, and the potential impact they may have on your business.