In this issue
In this edition we continue our series on ‘Blind Freddy’ common errors, i.e. errors that are so obvious that even ‘Blind Freddy’ would spot them. Our tenth article in the 2016-2017 series focuses on common errors when accounting for exploration and evaluation assets.
We remind you that AASB 16 turned one in January 2017, and that entities need to turn their minds to how to implement this standard.
We also highlight the new Interpretation 22, which clarifies the exchange rate at which assets, expenses and income should be recognised when cash has been received or paid in advance, as well as other changes to accounting for investment properties and annual improvements.
Download a copy of the March 2017 Edition of Accounting News.