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There are a number of new and amended Accounting Standards waiting in the wings for the next ‘Big Bang’ happening for 30 June 2014 financial statements. Read more
Ten ways to materially misstate your financial statements…The ‘Blind Freddy’ proposition continued - Part 8 – Reverse acquisitions and fresh start accounting
Despite International Financial Reporting Standards (IFRSs) being applied in Australia since 2005, it would appear that Australian accountants still struggle to recognise a reverse acquisition or to pick up ‘fresh start’ accounting. Read more
IFRS Interpretations Committee issues draft guidance on put options written on non-controlling interests
The IASB recently issued Draft Interpretation D1/2012/2 Put Options Written on Non-controlling Interests (the DI) and the Australian Accounting Standards Board (AASB) has issued a wrap-around Exposure Draft of same name. The comment deadline for AASB is 3 September 2012. Read more