AASB - Income Reporting for NFPs

Are you aware of the new AASB standards relating to the reporting of income for NFPs?  Do you know what this means for your organisation?
 
Join the lunch and panel discussion with the Australian Accounting Standards Board (AASB),  Australian Charities and Not-for-profits Commission (ACNC) and Moore Stephens to find out what you need to do to make your organisation ready for these changes.

In December 2016, the AASB approved for release:

• AASB 1058 Income of Not-for-Profit Entities;
• AASB 2016-7 Amendments to Australian Accounting Standards – Deferral of AASB 15 for Not-for-Profit Entities; and
• AASB 2016-8 Amendments to Australian Accounting Standards – Australian Implementation Guidance for Not-for-Profit Entities.

 
These standards are likely to have a significant impact on the income recognition for NFPs and are effective for reporting periods beginning on or after 1 January 2019 (with early application permitted).  The effective date for AASB 15 has also been deferred by one year from annual reporting periods beginning on or after 1 January 2018 to 1 January 2019.
 
Moore Stephens WA will host a panel lunch with Clarke Anstis, Assistant Technical Director of the AASB, Mel Yates Director of Reporting and Red Tape Reduction of the ACNC and David Holland our National Head of Technical Accounting to discuss how these new standards are likely to impact your organisation. 
 
Key areas for discussion include:

• Assets received below fair value;
• Transfers received to acquire or construct non-financial assets;
• Grants received;
• Prepaid rates;
• Leases entered into at below market rates; and
• Volunteer services

 
This is a unique opportunity for you to speak directly to the AASB and ACNC and hear from experts in the field.

Tickets are $150 + GST per person and spaces are limited, so register early to avoid disappointment.

For more information and to register please click here.

​We hope to see you there!

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