The recently issued accounting standards AASB 15 Revenue from Contracts with Customers and AASB Leases continue to trouble accountants and auditors as evidenced by technical queries, ASIC findings, and decisions by the IFRS interpretations committee.
This session will address:
- What are regulators and standard-setters finding?
- The more complex accounting issues in AASB 15, such as licensing, warranties, principal and agent, incremental costs,
- NFP revenue issues such as which standard to apply and specificity, and
- Accounting for remeasurements in AASB 16.
