Preparers and auditors have been through the first reporting season for AASB 15 Revenue from Contracts with Customers. Some were unprepared for its complexities and poor practices resulted. Like other accounting standards, AASB 15 must be reassessed at each reporting date. This session will focus on:
- Examples of how for-profits have implemented AASB 15
- The issues that have arisen on their first-time application
- Examples of reporting practices, and
- Addressing the ongoing requirements of AASB 15.