General Financial Reporting Update December 2020

26 November 2020

Aletta Boshoff, Partner
National Leader, IFRS & Corporate Reporting
National Leader, ESG & Sustainability
Ashleigh Woodley, Partner, Audit & Assurance |

31 December 2020 is fast approaching and the coronavirus outbreak still affects many aspects of an entity’s financial reporting.

The continuing key areas of impact to consider from COVID-19 are:

  • Impairment of assets
  • Recognition of provisions
  • Modifications to leases
  • Modifications to share based payments and employee entitlements
  • Going concern determination
  • Assumptions surrounding compliance with covenants
  • Renegotiating /modifying financial instruments

During this webinar we will also look at:

  • Post AASB16 implementation issues
  • The impact of AASB Interpretation 23 Uncertainty over Income Tax Treatments

Amendments to the definition of a business introduced by AASB 2018-6 that may result in more acquisitions being recognised as asset acquisitions rather than business combinations.

We will also provide a Tax Update at the end of the webinar. Our tax experts will provide an insight into recent tax changes, budget, stimulus packages and how COVID-19 has affected taxpayers.

This accounting update, run by BDO IFRS Advisory experts Ashleigh Woodley, Aletta Boshoff and Kay Kelly, will assist you in preparing your 31 December 2020 year-end and half-year accounts.