In this issue
In this edition, we explore further specific aspects of the ‘triple threat’ new accounting standards. This month we look at some examples of how judgement is vital in identifying performance obligations for revenue recognition under IFRS 15 Revenue from Contracts with Customers, and also illustrate an example of how small changes to leases will result in a significant amount of work for lessees when accounting for modifications to leases under IFRS 16 Leases.
We also continue our series article on accounting for convertible notes.
Lastly, we summarise the financial reporting impacts for Victorian associations since duplicative reporting to Consumer Affairs Victoria (CAV) was removed from 1 July 2018, and also draw your attention to possible higher revenue thresholds for charities reporting to the ACNC.
Download a copy of the September 2018 Edition of Accounting News.