Accounting News - October 2021

In this edition, we look at the latest financial reporting issues in Australia and globally. We also consider new areas affecting financial reporting in the future, including the new insurance standard, ESG reporting, and the move in Australia to general purpose financial reporting. 

SUSTAINABILITY

• Five reasons why mid-market businesses should care about ESG
• Net zero, ESG and sustainability reporting in the mining and energy industries
• BDO publishes a snapshot of sustainability reporting frameworks

AUSTRALIAN DEVELOPMENTS

• Listed entities must disclose JobKeeper payments to the ASX
• Bed licences - Have you reviewed carrying amounts and estimated useful lives in 30 June 2021 financial statements?

GETTING READY FOR GENERAL PURPOSE FINANCIAL STATEMENTS

• Accounting for business combinations – the acquisition method

INSURANCE

• Applying the General Measurement Model in IFRS 17 Insurance Contracts to a portfolio of insurance contracts

NOT-FOR-PROFIT ENTITIES

• Exposure draft proposes increased reporting thresholds for ACNC registered charities for years ending 30 June 2022 onwards

INTERNATIONAL DEVELOPMENTS

• IASB proposes reduced disclosures for subsidiaries without public accountability – what does this mean for Australian entities?

OTHER

• Watch our most recent webinars – More Complex Tax Accounting