Webinar: Financial Reporting Update 2020 | May 2020

Ralph Martin, National Technical Director at RSM Australia, along with Ana Espinal-Rae, National Technical Manager, hosted three webinars to deliver his annual Financial Reporting Update.

What was covered:

• What are the potential accounting impacts of COVID-19, and the government’s stimulus packages? 
• How will you be affected by the removal of the option to prepare Special Purpose Financial Statements?
• What are the issues with initial adoption of the new lease standard? How can you ensure that you are well prepared? 
• What to look out for when applying the new revenue and income for not-for-profits standards? 
• What other new accounting standards and interpretations do you need to be planning for?

Relevant materials:

• RSM COVID-19 Information Centre
• Financial Reporting Implications of COVID-19
• ASIC Extends reporting deadlines
• ASIC allows virtual AGMs and grants 2-month extension 
• Common Issues in accounting for share-based payments
• AASB 15 and AASB 1058 – the “sufficiently specific” test
• Financial Reporting for natural disasters

Watch the recording below: