In this edition, we continue our ‘Blind Freddy’ series, this month focusing on common errors when accounting for PPE (scope and ‘cost’ errors) and commence a new series where we look at the complexities surrounding the accounting for convertible notes.
We also look at the impact of the new leases standard, IFRS 16 Leases on the accounting for novated leases by employers.
Lastly, we highlight some recent approvals by the Australian Accounting Standards Board of recent releases by the International Accounting Standards Board, including changes to IFRS 9, IAS 28, various annual improvements, and the long-awaited Practice Statement 2 Making Materiality Judgements.