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Rising inflation: How does it impact financial statements?

6 September 2022
Inflation in Australia hit 6.1% in the quarter ended 30 June 2022, which is the highest level recorded since 1990. 

The end of "Grandfathered" exemptions from ASIC financial reporting

5 August 2022
Changes to the Corporations Act recently passed by Parliament mean that “Grandfathered” entities will no longer be exempt from lodging financial statements with ASIC under the Corporations Act 2001. 

ASIC Extends Deadlines for Financial Reporting

26 July 2022
ASIC has announced an extension of one month to the deadline for unlisted entities to lodge their financial reports. 

ASIC clarifies financial reporting requirements for AFS licensees

22 June 2022
Changes to financial reporting requirements for AFS Licensees were announced by ASIC in June, following changes to Accounting Standards. 

General Purpose or Special Purpose Financial Statements - what you need to know

23 May 2022
Recent changes to Australian Accounting Standards will mean that some for-profit entities will have to prepare General Purpose Financial Statements ('GPFS') for the first time, and are no longer able to prepare Special Purpose Financial Statements ('SPFS'). 

WA Local Government Act reforms: 6 key changes to financial management and reporting

5 January 2022
In early November, the Western Australian Government announced a series of proposed changes to the Local Government Act, resulting in a number of key changes to financial management and reporting. 

Cradle – Lease Accounting Software Solution

29 November 2021
Our CFO Advisory team is now equipped with Cradle – a cutting edge lease accounting software solution that cuts through the complexity and provides certainty around reporting, disclosures, market releases and projections.

WA government agencies: Climate-related risk disclosures in financial reporting

3 November 2021
The old adage “sunlight is the best disinfectant” is very apt when it comes to the growing need for more complete and consistent disclosure of climate-related risks in the financial reports of Western Australian (WA) Government agencies, and government trading enterprises (GTEs). 

New requirement to disclose Jobkeeper payments received by listed companies

29 September 2021
Listed companies will have to disclose publicly the amount of JobKeeper payments received, how many employees the payments related to, and how much (if any) they returned to the government for each financial year.

Accounting for ‘Software as a Service’ cloud computing arrangements

6 July 2021
Cloud computing solutions, often packaged as “Software as a Service – SaaS” arrangements, are commonly used due to their flexibility and scalability features.

ASIC extends reporting deadlines for 30 June lodgements

3 May 2021
ASIC has made several recent media announcements aimed to simplify the financial reporting process for 30 June 2021 year-ends. 

Removal of Special Purpose Financial Statements - What you need to know

10 February 2021
Recent changes to Australian Accounting Standards will mean that many for-profit entities have to prepare General Purpose Financial Statements (“GPFS”) for the first time, and are no longer able to prepare Special Purpose Financial Statements (“SPFS”).  In this article, we explain who is affected, and what the impact will be on those enti

ASIC further extends financial reporting deadlines

25 November 2020
ASIC has extended the relief under which it is offering entities an additional month to lodge their financial reports.  Having previously allowed a one-month extension for 30 June year-ends, ASIC has now provided the same relief for all balance dates up to and including 7 January 2021.

Accounting for changes to AASB 16 Leases

2 July 2020
Accounting for COVID-19 related rent concessions and other modifications to lease contracts, from the lessee’s perspective.