Accounting News, June 2013

19 June 2013

Sheryl Levine |

In this edition we look at the new leasing exposure draft which proposes scrapping the concept of operating leases and instead proposes that all leases be capitalised on the balance sheet. We remind those entities with exploration and mining assets to revisit their impairment models and assumptions for exploration and mining assets in light of the continued reduction in commodity prices. We also look at the status of special purpose financial statements and whether Australian investment entities will need to provide additional consolidation disclosures compared with their international equivalents.

In this issue

  • No more operating leases
  • Are your exploration and mining assets impaired?
  • Status of special purpose financial statements
  • Will Australian investment entities be required to disclose consolidated financial statements?
  • New BDO publications
  • Comments sought on exposure drafts