Home Moore Australia Leases Knowledge Library Leases Knowledge Library Clarity in Sustainability Reporting Requirements The International Sustainability Standards Board (ISSB) finalised the issuance of the first two global Sustainability Reporting standards and Treasury has released a consultation paper that clearly outlines their vision for sustainability Reporting in Australia. Read more Getting ready for 30 June - webinar and Technical update guide A summary of changes to financial reporting requirements applicable for years ending 30 June 2023. Read more NOT-FOR-PROFITS REPORTING AND REGULATORY UPDATE The Not-for-Profit sector is continuing to face significant levels of change. It is important for you to stay on top of the latest requirements and understand how they will impact your organisation. Read more Charity and NFP reporting changes If you are a Charity or Not-for-Profit (NFP) there are a number of financial reporting changes that will impact your annual information statement (AIS) and financial reporting obligations at 30 June 2022. Read more Coronavirus Outbreak – The potential financial reporting implications for the year ended 31 December 2019 The recent outbreak and spread of the coronavirus has now disrupted many businesses globally and has had a significant impact on financial markets. This publication focuses on the potential accounting and financial reporting implications of coronavirus that management should take into consideration when preparing the financial statements for the year ended 31 December 2019. Different considerations will apply for later accounting periods e.g. for financial statements for periods ending 31 March 2020 or other accounting periods with a reporting date subsequent to the outbreak taking place. Read more Changes to current/non-current classification of loans and other liabilities Currently, under AASB 101.69(d), an entity needs an ‘unconditional right’ to defer settlement of the liability for at least twelve months after the reporting period before it can be classified as non-current. This is an extremely high test to pass and has resulted in many loans being classified as current (most loan arrangements are rarely unconditional). Read more Amendments to peppercorn and other below market lease amendments for the public sector The Australian Accounting Standards Board (AASB) issued AASB 2019-8 Amendments to Australian Accounting Standards – Class of Right-of-Use Assets arising under Concessionary Leases in late December 2019. Read more Important Announcement: David Holland appointed as Board Member of the AASB We’re very pleased to announce our very own David Holland, Head of Technical Accounting, has been appointed as a new member of the Australian Accounting Standards Board (AASB) effective from 1 January 2020. Read more Bursars – what accounting changes are on the horizon that may affect you? We are in the middle of a period of significant change in accounting standards. This article highlights the impact of three new accounting standards upon schools, which bursars should begin preparing for. Read more Ask the Expert: Options to extend leases under AASB 16 A business has a 5+5+5 year lease (i.e. 5 year minimum non-cancellable period with two 5 year options to extend). The option to extend is their choice. Should the lease term be 5 years, 10 years or 15 years? Our National Head of Technical Accounting looks at the options to extend leases under AASB 16. Read more Proposed changes to tax effect accounting in relation to leases and decommissioning obligations If you thought accounting for leases under the new AASB 16 was complicated have you even considered the tax effect accounting implications? Read more Ask the Expert: Sub Leases A Not-for-profit organisation provides services to remote communities in regional Australia. In order to attract staff, they rent several houses (at market rates) for periods of 5-10 years from external parties. Staff then rent these houses from the NFP organisation on a short term basis (normally 6 months at market rates). How is this dealt with under the new AASB 16? Our National Head of Technical Accounting looks at the impact of the new AASB 16 leases standards on businesses with sub leases. Read more IFRS 16 Leases and the Mining Industry The International Accounting Standards Board (IASB) issued IFRS 16 Leases on 13 January 2016. Revising the lease accounting requirements was first added to the IASB’s agenda in 2006, since then a number of exposure drafts have been issued and hotly debated. Read more AASB/IFRS 16 Lease Standard Calculator Moore Stephens has developed a model to help you calculate and apply the new AASB/IFRS 16 Lease standard. Read more