Financial reporting has gone through the biggest upheaval since 2005, with the introduction of the new accounting standards dealing with revenue, financial instruments and leases. These changes can cause a number of issues for not-for-profit entities and should not be ignored.
As we approach December year ends, it is important for not-for-profits to explore practical application issues in dealing with these accounting standards.
BDO Partners, Clark Jarrold and Michael Cutri, will discuss:
- AASB 16 Leases, especially peppercorn leases
- AASB 1058 Income from Not-For-Profit Entities
- AASB 15 Revenue from Contracts with Customers