Accounting News, June 2012

21 June 2012

Tim Kendall , National Leader, Audit & Assurance |

In this month’s newsletter, we continue our ‘Blind Freddy’ series looking at common mistakes accountants make in missing reverse acquisitions or applying ‘fresh start’ accounting. We look at topical issues for your June 2012 reporting, including an overview of what is new for June 2012, the potential impacts of the carbon tax and ten actions to take to make future reporting seasons easier. We also look at the International Accounting Standards Board’s recent annual improvements standard and draft interpretation on put options written on non-controlling interests.

In this issue

  • What’s new for June 2012?
  • Carbon tax implications for 30 June 2012
  • Action stations! Ten things to do 30 June 2012 for standards impacting future years
  • Ten ways to materially misstate your financial statements…The ‘Blind Freddy’ proposition continued - Part 8 – Reverse acquisitions and fresh start accounting
  • IASB issues annual improvements standard
  • IFRS Interpretations Committee issues draft guidance on put options written on non-controlling interests
  • Comments sought on exposure drafts