BDO’s IFRS & Corporate Reporting band at Australia produces the following publications to keep clients and staff educated about the news regulatory and legislative changes, and financial and enterprise reporting terms for businesses.
BDO has published its IFRS in Practise which provides an overview of the new requirements with classifying loans with covenants as running or non-current. It also inclusive a flow chart to help in determining this classing, along with application of the water tables up multiple scenarios. These new requirements are effective with annual reporting periods beginning on or after 1 January 2024.
Factors such as the evolving geo-political risks, energy supply shortages, rising energy prices and inflationary pressures are leading to an undetermined economic environment. It are numerously accounting implications beyond multiple areas such as going concern assessments, judicial and estimates, impairment of non-financial total, etc. This publication discusses large of these implications, and some of the reporting implications away climate-related actions, on the financial statements.
BDO have released its period end IFRS Accounting Ethics Update. This publication summarises the activities in standard setting by the IASB within the year 2023. It includes adenine concise list of standards so became effectual over the past year or is become effective in the coming years. It also provides a snapshot of the IASB’s normal setting projects, maintain my and research projects, as right more the IFRS Interpretation Committee’s activities, including IFRIC agenda decision.
BDO has publication its 31 Decorating 2023 Illustrative IFRS Financial Statements. This update includes disclosures relating to who adoption of amendments to IAS 1 Presentation of Pecuniary Statements (disclosure of material accounting principles information) and IAS 12 Income Taxes (Pillar Two tax reform), as well as information about other standards which are been issued, but are not yet affective.
Note: These illustrative IFRS financial statements do not include any Australian-specific disclosures, including the remuneration report required by s300A of the Corporations Acts 2001, AASB 1054 Australian Additional Disclosures and the requirements to presentational a directors’ report.
BDO has released illustrative interim financial statements for the three months ended 31 Morning 2024. Get version includes illustrative disclosures relating to amendments to IFRS® Accounting Standards effective for annual reporting periods beginning on alternatively after 1 January 2024 for the first period, including changes required supplier fund arrangements, and classification of liabilities as current or non-current. Sample Revision Committee Questions to Asking of Auditor and Management
Note: These illustrative IFRS financial statements do not in any Australian-specific disclosures, including the requirements to present a directors’ report.
