• Accounting News - July 2019

In this issue

In this edition, we update you on recent regulatory activity with regard to expanded whistleblowing legislation. With respect to Australian developments, we draw your attention to the new Conceptual Framework and how it will apply to Australian entities.

We continue to explore further aspects of the ‘triple threat’ accounting standards. This month we illustrate Step Four and how variable consideration is allocated to performance obligations. We also remind you that the new expected credit loss model must be applied to intercompany loans receivable from subsidiaries, investments in associates/joint ventures and other related parties (including key management personnel).

Our not-for-profit section reviews recent proposals to amend the definition of ‘not-for-profit entities’ in Australian Accounting Standards (ED 291), and we continue our focus on whether AASB 15 or AASB 1058 applies to income received. This month we focus on grant contracts to conduct research which do not include ‘sufficiently specific’ performance obligations.

Lastly, in international developments, we summarise some recent agenda decisions of the IFRS Interpretations Committee.







Download a copy of the July 2019 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.