Accounting News, June 2011

21 June 2011

Tim Kendall , National Leader, Audit & Assurance |

The IASB announced last week that they will re-expose certain aspects of the revenue recognition standard and last month they issued a suite of four new and two amended Accounting Standards. In this edition we look at the expected timing of re-exposure of revenue recognition, the new standards on fair value measurement and joint arrangements and some of the major impacts they may have on your financial statements in future, as well as AASB 1054, which results in the additional ‘Aus’ disclosures for for-profit entities being moved into a separate Accounting Standard.