General Financial Reporting Update December 2020

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.