Shortly, special-purpose financial statements for certain entities will no longer be permitted under AASB 2020-2 Amendments to Australian Accounting Standards – Removal of Special Purpose Financial Statements for Certain For-Profit Private Sector Entities. The preparation of general-purpose financial statements from a special-purpose base has its challenges. It’s time to get started – it’s not easy
The session will:
- Recap on who is caught and who is not
- Key issues on first-time application of consolidation and equity accounting
- ASIC on AFSL and consolidation
- Benefiting from AASB 1 First-time adoption of Australian Accounting Standards, and
- GPFS – tier 1 or tier 2 – and disclosure challenges.