Not-for-profit Financial Reporting Update
16 July 2020
BDO Partners, Clark Jarrold and Anthony Whyte, hosted out mid-year not-for-profit financial reporting update where they discussed key areas impacted by COVID-19, including:
- Impairment of assets
- Modifications to leases
- Accounting for government assistance
- Going concern assumptions.
They also discussed the transition to new revenue standards AASB 15 Revenue from Contracts with Customers and AASB 1058 Income of Not-for-Profit Entities, as well as AASB 16 Leases.
Brisbane - General Financial Reporting Update