Are you ready for major changes to accounting?

The Australia Accounting Standards Board have released sweeping changes to accounting reporting. These changes affect all entities that prepare accounts in accordance with accounting standards and interpretations and requires action now. These standards are significant, and in some instances, it will be essential for their impact to be known beyond the finance function. Read on to find out more:

The Australian Government has also proposed to raise financial reporting thresholds for proprietary companies by 2020. You can read more on the current and proposed thresholds here:

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All the Latest From Our Team

Small companies may become large as a result of additional assets recognised under the new lease standard

Posted By William Buck News on 11/01/2019 10:22:40 am

All Australian business leases will be subject to new accounting rules from January 1 2019, which could have significant impact on an entities overall financial…

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Update on Not-for-Profits accounting for peppercorn leases

Posted By William Buck News on 07/01/2019 10:29:56 am

On 24 December 2018 the AASB issued an amending standard AASB 2018-8 Amendments to Australian Accounting Standards – Right-of-Use Assets of Not-for-Profit Entities that provides…

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NFP accounting landscape set to change

Posted By William Buck News on 21/12/2018 10:30:37 am

The already complex accounting landscape for Not-for-Profits, is set to change beginning 1 January 2019, with the Accounting Standards Board  new income and revenue recognition…

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Festive fraudsters risk to businesses

Posted By William Buck News on 03/12/2018 03:05:19 am

While the Christmas holiday break is traditionally considered a time to unwind and reflect on the past year, it can also be one of the…

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