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All news by: Kristen Haines

Accounting for Portable Long Service Leave

Portable long service leave has become more prominent as staff shift to short term contracts. The accounting for these arrangements can be complex and will depend on the specifics of the scheme.   

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. 

Technical Accounting Standards Update Guide

Moore Australia is pleased to publish its guide to the 2022 Technical Accounting Standards. 

ASIC Financial Reporting Guidance for AFSL holders

All Australian Financial Services Licensees (AFSLs) are now required to prepare general purpose financial statements (GPFS) as a result of the new Australian financial Reporting Framework issued by the Australian Accounting Standards Board (AASB).  ASIC has just released additional guidance to assist AFS Licensees to determine whether these financial statements can be the Tier 2 Simplified Disclosure financial statements or whether they will have to prepared Tier 1 financial statements with full compliance with Australian Accounting Standards (AAS).  It has also deferred the application date by 12 months for those Licensees that do not have financial reporting obligations under Chapter 2M of the Corporations Act (2001).

Guide to Transitioning to Simplified Disclosure Reporting

Australian organisations face significant change for the 30 June 2022 reporting season, with the introduction of the Simplified Disclosure reporting framework and removal or the reporting entity concept for private for-profit entities.