Accounting News, September 2014

16 September 2014

Sheryl Levine |

In this edition we continue our series on examining the practical implications of significant changes made to the ASX Corporate Governance Principles impacting listed entities from 1 July 2014. We continue our discussion on the impacts of the new revenue standard, IFRS 15 Revenue from Contracts with Customers, focusing on the impact on retailers. We look at results of the AASB’s research into the extent that the recognition and measurement requirements of Accounting Standards are being applied in special purpose financial statements and we also look at the latest IASB developments, including a recent amendment to permit equity accounting for investments in subsidiaries, associates and joint ventures in separate financial statements, and a status update on the leases project. Lastly we highlight latest guidance issued by the ACNC on 2014 Annual Information Statements.

In this issue

  • Attention directors – ASX Corporate Governance changes – Part 2
  • IFRS 15 - Revenue recognition to change for retailers
  • No more special purpose financial statements?
  • Lease accounting – Is it changing or not?
  • IASB approves equity method in separate financial statements
  • ACNC charities – Guide to 2014 Annual Information Statement
  • Wayne Basford, Partner and IFRS Leader, Asia Pacific, appointed to Transition Resource Group for Impairment of Financial Instruments
  • BDO publications
  • Comments sought on exposure drafts