Comments sought on exposure drafts
Comments sought on exposure drafts
At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available.
If you would like to provide any comments, please contact Aletta Boshoff, Partner and National Leader, IFRS & Corporate Reporting and National Leader, ESG & Sustainability.
|
Document |
Proposals |
Comments due to AASB by |
Comments due to IASB by |
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ITC 50 Post-implementation Review – Income of Not-for-Profit Entities |
To seek feedback on NFP user experiences when applying AASB 1058 Income of Not-for-Profit Entities and AASB 15 Revenue from Contracts with Customers to recognise income and revenue. |
31 March 2023 |
N/A |
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To seek feedback on NFP user experiences when applying accounting standards dealing with control and consolidation, structured entities, related party disclosures, and disclosures in special purpose financial statements regarding the extent of compliance with Australian Accounting Standards. |
31 March 2023 |
N/A |
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DP Development of Simplified Accounting Requirements (Tier 3 Not-for-profit Private Sector Entities) |
Contains the AASB’s preliminary views on a Tier 3 reporting framework for private sector not-for-profit entities (NFPs). Proposes simpler accounting requirements for smaller private sector NFPs in a separate stand-alone standard. |
31 March 2023 |
N/A |
| ED 323 Disclosure of Non-current Liabilities with Covenants | Proposes amendments to clarify the criteria for classifying a liability as current or non-current to be consistent with recent changes in AASB 2020-1 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-Current and AASB 2022-6 Amendments to Australian Accounting Standards – Non-current Liabilities with Covenants. | 22 May 2023 | N/A |