Like the leasing standard, this year saw the first implementation of challenging revenue standards – AASB 15 Revenue from Contracts with Customers and AASB 1058 Income of Not-for-Profit Entities – and AASB 2019-4 Disclosure in Special Purpose Financial Statements of Not-for-Profit Private Sector Entities on Compliance with Recognition and Measurement Requirements. This session aims to help accountants and auditors reduce compliance risks and improve their reporting practices.
It will focus on:
- Identifying areas where preparers have struggled with compliance
- Illustrative examples of reporting practices, and
- The issues that need to be reconsidered at year’s end.