RSM Australia

IFRS News

Restructuring Insights

Download the AASB 16 Leasing Model

11 April 2019
What is AASB 16 - Leases?

Recognition of peppercorn leases deferred

29 November 2018
The Australian Accounting Standards Board (AASB) has postponed the requirement for not-for-profit entities to bring peppercorn leases into their financial reports at fair value, having been made aware of the difficulty and cost constraints of determining the fair value of properties subject to such leases.

Reduced financial reporting requirements for SME businesses

16 November 2018
Proposed changes to the Corporations Act 2001 will mean that many small and medium businesses will no longer have to lodge annual financial reports.

Scrutiny of new accounting standards – inaction not tolerated

14 June 2018
ASIC’s heightened scrutiny of ‘big three’ accounting standards highlight inaction won’t be tolerated. 

Changes to revenue recognition - don't be caught out

14 May 2018
The nature of revenue is changing.

Are you up to date with the latest AASB standards?

11 May 2018
New standards for classification and measurement of financial assets and liabilities have been in force since 1st January 2018.   Are you aware of how it will impact your business?

Guide to Convertible Debt

10 January 2018
Convertible debt continues to be a challenging area for financial statement preparers.

New requirements for Significant Global Entities

18 October 2017
There are new requirements for Significant Global Entities to prepare General Purpose Financial Statements. Recent guidance from the ATO has clarified the effect of changes made last year to Section 3CA of the Tax Administration Act 1953. 

ASIC’s new funding model - how will you be affected?

16 August 2017
1 July 2017 saw the introduction of a new Industry Funding Model at the Australian Securities and Investments Commission (ASIC), following the passage into law of the ASIC Supervisory Cost Recovery Levy Act 2017.  

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