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13 Dec. 2018

How special are special purpose financial statements – For-profit User and Preparer Survey Results

How special are special purpose financial statements – For-profit User and Preparer Survey Results?

78% of primary users said if SPFS do not consistently apply recognition and measurement requirements in Australian Accounting Standards, then this is an issue that needs to be addressed.

Preparers suggested waiving the requirement to provide comparative disclosures in the year of transition, and asked for additional transitional relief to help with consolidation and equity accounting.

Read the Survey Report to find out more