Completed
Date

Thursday 5 May 2022

Time

12:00 pm

Duration

1.5 CPD Hours

Session Topic

Delving into troublesome revenue and leasing standards

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.
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This session is presented by:

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Carmen Ridley

Principal | Australian Financial Reporting Solutions

Carmen has an excellent knowledge of financial reporting through significant experience with a number of major accounting firms in both the external audit and technical divisions and spending significant time analysing and interpreting accounting standards for clients. Carmen is the co-author of ‘Understanding and Implementing the Reduced Disclosure Regime’. Carmen is serving her third three-year term as a member of the AASB.