Completed
Date

Thursday 12 December 2019

Time

12:00 pm

Duration

1.5 CPD hours

Session Topic

First-time NFP revenue recognition under AASB 15 Revenue from Contracts with Customers

AASB 15 Revenue from Contracts with Customers applies to 31 December year-end NFPs for the first- time. Preparers and auditors have found that the for-profit version of AASB 15 challenging. The NFP version presents a new set of challenges. This session will focus on:

  • Steps NFPs need to take to apply AASB 15
  • Implementation guidance for not-for-profit entities and for not-for-
  • profit public-sector licensors
  • Australian illustrative examples
  • Issues encountered in implementation
  • Key disclosures examples, and
  • How the audit is affected.
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This session is presented by:

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Carmen Ridley

Principal of 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.