• Accounting News - July 2018

In this issue

In this edition, we delve into more detail on specific aspects of the ‘triple threat’ new accounting standards, this month focusing on ‘Step 2’ of the new revenue standard, IFRS 15 Revenue from Contracts with Customers, and whether we have a lease in IFRS 16 Leases.

We also continue our series articles, common errors when accounting for PPE (depreciation issues), and convertible notes, this month illustrating conversion features that would result in failing equity classification, as well as features that would result in meeting equity classification.

Lastly we consider the latest agenda decision of the IFRS Interpretations Committee on classification of short-term loan and credit facilities.

Download a copy of the July 2018 Edition of Accounting News.


This publication has been carefully prepared, but is general commentary only. This publication is not legal or financial advice and should not be relied upon as such. The information in this publication is subject to change at any time and therefore we give no assurance or warranty that the information is current when read. The publication cannot be relied upon to cover any specific situation and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact the BDO member firms in Australia to discuss these matters in the context of your particular circumstances.

BDO Australia Ltd and each BDO member firm in Australia, their partners and/or directors, employees and agents do not give any warranty as to the accuracy, reliability or completeness of information contained in this article nor do they accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it, except in so far as any liability under statute cannot be excluded. Read full Disclaimer.