• Natural Resources Accounting Update: Perth

Natural Resources Accounting Update: Perth

Date: 20 November 2018
Time: 13:45 - 17:30
BDO Perth
38 Station St
Subiaco, WA  6008
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  • Summary

Two of the new accounting standards (AASB 9 and AASB 15) are now here: Are you ready for 31 December 2018?

For those preparing interim accounts at 31 December, you are required to make disclosures about your transition to these new standards – AASB 15 Revenue from Contracts with Customers and AASB 9 Financial Instruments.

For 31 December balancers, you transitioned to these standards from 1 January 2018, and now have to deal with the disclosure of your transition impacts in your annual reports.

Now is your last chance to make sure that you transition correctly.

  • Are you confident you have transitioned correctly?
  • Are your directors and auditors confident on your transition?
  • Are you confident that you are in a position to satisfy any queries that may be raised by the regulators?

The disclosure requirements of these standards should not be underestimated!

AASB 16 Leases is also a significant standard for entities in the natural resources sector to adopt. This standard will likely impact EBITDA, gearing ratios and reported operating cash flows.

Wayne Basford (Natural Resources Global Leader IFRS) and Susan Oldmeadow-Hall will provide an update on the accounting standard and regulatory changes relevant for 31 December 2018 half-year and full year reporting.

In this practical accounting update, Wayne and Susan will run through the key issues to consider in transitioning to these new accounting standards, with an emphasis on the key impacts that are affecting companies in the natural resources sector including:

  • Transition to AASB 9 Financial Instruments and AASB 15 Revenue from Contracts with Customers
  • Disclosures required in the half-year and full year financial statements on adoption of AASB 9 and 15
  • Practical issues in implementing AASB 16 Leases for those in the natural resources sector
  • Update on new accounting standards and interpretations
  • Regulatory update – ASIC surveillance activities and pronouncements.

Tuesday, 20 November 2018

1:45pm Arrival
2:00pm Seminar starts
3:30pm Short break
3:55pm Recommence
5:00pm Seminar finishes
5:30pm Event concludes
Light food & beverages provided

By Thursday, 15 November 2018