RSM Australia

Financial Insight

Ethical investing with a clear conscience can be very profitable

18 June 2020
Global coverage and media attention on climate change has fallen 59% since January 2020, so does that mean climate change is 59% less of a problem? Obviously not...

The broadening of Significant Global Entity definition

26 May 2020
Broadening of Significant Global Entity definition and the potential impact for Australian entities with Private Equity ownership.

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.

Changes to revenue recognition - don't be caught out

14 May 2018
The nature of revenue is changing.

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.  

ASIC's Focus Areas for June 2017

18 July 2017
Ahead of this year’s financial reporting season, ASIC has issued its focus areas for preparers of financial statements, and has reminded directors of the need to focus on providing high-quality, relevant financial information to readers. 

Interpretation 23: Uncertainty over income tax treatments

19 June 2017
The AASB is set to issue Interpretation 23: Uncertainty over Income Tax Treatments.  The new Interpretation is applicable for periods beginning on or after 1 January 2019.