The government has released some very significant stimulus measures, which begs the question of how to correctly account for them?
While everyone has recently been concentrating on JobKeeper eligibility, one of the aspects that hasn’t had as much attention is how to account for JobKeeper in your financial statements.
Still confused about what disclosures should be included and which should be omitted from your financial reports? Unfortunately many people still take that view that over-disclosure is the best option.
Just in time, on 24 December 2018 the AASB released a new accounting standard to provide a temporary reprieve from the complexity of peppercorn lease accounting!
A new requirement for a consolidated trial balance if multiple trust accounting software is used
Updated guidance on trust account name best practice
Fees to be transferred to agent's general account at least weekly
Monthly bank reconciliation to be 'as at' close of business on the last day of the month
There are a number of organisations who regularly publish example financial reports …
The deadline for incorporated associations and clubs to update the rules to meet the Associations Incorporation Act 2015 (WA) requirements is 30 June 2019. Have you updated your rules yet?
Have you considered how to account for up front fees in schools under the new AASB 15 and AASB 1058?