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- January 2010
January 2010
To contact the Moore Stephens Technical Accounting Services team call Rob Mackay
or Kim Barson on (03) 9614 4444 or email:
Rob Mackay
rmackay@moorestephens.com.au
Kim Barson
kbarson@moorestephens.com.au
Reduced Disclosure Regime
- By Rob Mackay
- Published 27/01/2010
- January 2010
- Unrated
In the December 2009 edition of XYZ Financial Reporter, we discussed the release of the AASB’s consultation paper on the proposed Differential Financial Reporting framework and the Reduced Disclosure Regime that would be available to the many entities categorised as a ‘tier 2’ reporter (i.e. non-publicly accountable).
Amendment to AASB 124 – Related Parties
- By Rob Mackay
- Published 27/01/2010
- January 2010
- Unrated
The AASB has recently issued an amended version of AASB 124 Related
Parties that is mandatorily applicable to annual reporting periods
commencing 1 January 2011, although early adoption is available.
ASIC reporting concerns
- By Rob Mackay
- Published 27/01/2010
- January 2010
- Unrated
ASIC has released their findings in relation to the surveillance of 350
financial reports of listed and unlisted entities reporting at 30 June
2009 and has indicated that it continues to have concerns with the
following accounting areas.
Interpretation 19 – Extinguishing Financial Liabilities with Equity Instruments
- By Rob Mackay
- Published 27/01/2010
- January 2010
- Unrated
The AASB has issued Interpretation 19 dealing with how a debtor would
account for the extinguishment of a liability through the issue of
equity instruments. This might be particularly relevant to entities
that might have liquidity issues and be unable to settle liabilities
using cash as a result of current economic hardship.