Accounting News - June 2021

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

AUSTRALIAN DEVELOPMENTS

• Ten things to remember when preparing 30 June 2021 annual and half-year financial statements
• Accounting impact of changes to non-refundable R&D incentives from 1 July 2021

GETTING READY FOR GENERAL PURPOSE FINANCIAL STATEMENTS

• Accounting for joint arrangements

INSURANCE

• Booking insurance contracts – It’s all in the timing

SUSTAINABILITY REPORTING

• How climate change became a business issue worth reporting

NOT-FOR-PROFIT ENTITIES

• NFPs – Disclosures about revenue and income – more than you bargained for?

INTERNATIONAL DEVELOPMENTS

• IASB clarifies accounting for deferred taxes relating to assets and liabilities arising from a single transaction (leases and decommissioning obligations)

OTHER

• Watch our most recent webinars – Cash flow forecasting for impairment testing and going concern