Thursday 28 November 2019


12:00 pm


1.5 CPD hours

Session Topic

First-time NFP revenue recognition under AASB 1058 Income of Not-for-profit Entities

AASB 1058 Income of Not-for-profit Entities applies for 31 December year-ends for the first-time. It is specifically designed for NFPs where other revenue standards do not apply. This session will focus on:

  • The identification of standards that apply to the revenues of NFPs
  • The steps NFPs need to take to apply AASB 1058
  • Transitioning into AASB 1058
  • Illustrative examples
  • Examples of disclosures, and
  • How the audit is affected.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.