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
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