Monday 8 May 2017


12:00 am


1.5 hours

Session Topic

New AASB 15 (Part 2) – determining and allocating the transition price to performance obligations

This session, the second of three addressing AASB 15 Revenue from Customer Contracts, will cover steps three and four of the five-step process. Step three looks at variable consideration determination, non-cash consideration, and payments to customers. Step four examines the basis of allocation, the absence of a stand-alone market price, and discounts.

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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.

Sonya Sinclair

Audit and risk management expert

Sonya is a registered company auditor, registered superannuation auditor and quality-control reviewer, CAANZ. Sonya specialises in risk management, implementation of audit quality through development of audit systems and processes, and interpretation and advice on generally accepted accounting and auditing principles. Sonya has over 15 years’ experience in auditing and financial reporting, bringing a collaborative style and balancing technical aspects with practical recommenations to clients.