The AASB has updated its standard-setting work program as at 30 March 2017 Read More
Getting to know AASB 1058, two upcoming Webinars.
Accounting for income of not-for-profit entities has received a long-awaited overhaul with the issue of AASB 1058 Income of Not-for-Profit Entities in December 2016.
This education session provides a high-level overview of the key requirements of AASB 1058 and how they might apply to you. Read More
Australia’s accounting standards – more modifications and guidance needed for the not-for-profit sector
Released today, an Australian Accounting Standards Board (AASB) report finds Australia’s adoption of the International Financial Reporting Standards (IFRS) has been relatively smooth for most Australian business entities. Extra support however, is warranted for not-for-profit (NFP) entities ... Read more
March 2017 Action Alert is now available
Important progress at 27 March 2017 meeting: the Board discussed feedback on the public fatal-flaw draft of Service Concession Arrangements: Grantors (SCA) and also its Related Party Disclosures agenda decision. Some revisions and clarifications to be made to the draft SCA Standard with publication expected in the second quarter. The Board decided to finalise its agenda decision regarding the materiality of key management personnel related party transactions of not-for-profit public sector entities with some amendments. Full text of Action Alert for this meeting now available on AASB website.