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Accounting alerts

Keeping our clients up-to-date on financial reporting issues

Financial reporting is undergoing rapid change, particularly with the IASB finalising a number of projects effective over the next few years. The need to be kept informed of the latest developments has never been more important.

Our Accounting Technical team produce this series of 'Heads Up' newsletters to keep our clients up-to-date on new pronouncements, emerging issues and uncertainties in interpretation in financial reporting.

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You may also access our IAS Plus website - recognised as the premier IFRS related resource on the web. With global accounting standard undergoing remarkable and rapid change, the IAS Plus website is a key resource to stay on top.

Some of the key tools/resources available on the website include latest news, IFRS e-learning, IFRS newsletters, podcasts, IASB project insights, Models and checklists

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Heads Up: 2014 Accounting alerts

Update on Australian specific issues as they happen and Australian perspectives on IFRS developments.

Alert Topic
2014/09 Amendments to AASB 1053 – Transition to and between Tiers, and related Tier 2 Disclosure Requirements
2014/08 Heads Up: ASIC’s findings from 31 December 2013 financial reports
2014/07 RSE Executive Remuneration Disclosures
2014/06 AASB issues new standard for Superannuation Entities
2014/05 AASB 14 Regulatory Deferral Accounts
2014/04 Heads Up: ASIC's focus areas for June year ends
2014/03 IFRS 15 Revenue from Contracts with Customers
2014/02 Research & Development (R&D) tax offset
2014/01 Proposed amendments to the Corporations Act 2001 – Remuneration report disclosures, dividends test and other amendments

2013 Accounting Alerts

Alert Topic
2013/16 New Hedge Accounting Guidance under IFRS 9
2013/15 ASIC release consultation paper on financial reports of stapled entities
2013/14 Amendments to Australian Accounting Standards – Investment Entities
2013/13 ASIC's focus areas for June year ends
2013/12 IASB re-exposes proposals on lease accounting
2013/11 Regulatory deferral accounts interim standard
2013/10 ASIC Regulatory Guide 247 'Effective disclosure in an operating and financial review'
2013/09 Financial Instruments: Expected Credit Losses
2013/08 Proposed amendments to allow continuation of hedge accounting after novation of the hedging derivative
2013/07 IASB proposes limited scope amendments to IAS 36
2013/06 Proposed accounting for the sale or contribution of assets by an investors to its associate or joint venture
2013/05 IASB proposes limited scope amendment to IFRS 11
2013/04 Proposed amendments to remuneration report disclosures
2013/03 Proposed amendments to the dividends test under section 254T of the Corporations Act 2001
2013/02 Australian Exposure Draft on the proposed consolidation exemption for Australian investment entities
2013/01 Proposed amendments to classification and measurement requirements of IFRS 9

2012 Accounting Alerts

Alert Topic
2012/10 On track for a revised exposure draft on leases
2012/09 Hedge accounting draft: A closer reflection of risk management
2012/08 Effective disclosure in an operating and financial review
2012/07 Transitional relief and guidance on IFRS 10, IFRS 11, and IFRS 12
2012/06 Accounting implications of taxation ruling on franking of dividends paid by a company with accumulated losses
2012/05 Financial reporting implications of the Eurozone crisis
2012/04 IFRIC Draft Interpretation on Accounting for Levies
2012/03 Annual Improvements to IFRSs (2009-11 cycle)
2012/02 Exposure Draft 'Annual Improvements to IFRSs: 2010-2012 Cycle'
2012/01 Amendments to IFRS 1 for government loans at below-market rates of interest

2011 Accounting Alerts

Alert Topic
2011/06 Disclosing non-IFRS financial information
2011/05 June 2011 financial reporting: Non-financial reporting (including sustainability and integrated reporting)
2011/04 June 2011 financial reporting: Impacts of recent and proposed tax changes
2011/03 June 2011 financial reporting: Impacts of the proposed Australian carbon pricing mechanism
2011/02 June 2011 financial reporting: Accounting for the impacts of natural disasters
2011/01 June 2011 financial reporting: Financial reporting in an environment of uncertainty

2010 Accounting alerts

Alert Topic
2010/13 December AASB meeting - new pronouncements on the horizon
2010/12 October AASB meeting - Trans-Tasman convergence approaches
2010/11 September AASB meeting highlights
2010/10 July AASB meeting - a work in progress
2010/09 Trans-Tasman convergence - unravelling the tangled web
2010/08 Financial reporting reform - understanding change
2010/07 June AASB meeting - RDR on track for early adoption at 30 June 2010
2010/06 Financial reporting implications of recent and proposed tax changes
2010/05 May AASB meeting - RDR to proceed in two stages
2010/04 April AASB meeting - AASB likely to push forward with RDR
2010/03 March AASB meeting - inching towards convergence
2010/02 AASB's 'Reduced Disclosure Regime' (RDR) - no laughing matter
2010/01 February AASB meeting  - the promise of substantial change

2009 Accounting alerts

Alert Topic
2009/12 December AASB meeting  - the lull before the storm
2009/11 Financial reporting reform – early Christmas present or missed opportunity?
2009/10 October AASB meeting - push for New Zealand convergence
2009/09 September AASB meeting - differential reporting without IFRS for SMEs
2009/08 July  AASB meeting - differential reporting without the 'reporting entity' concept
2009/07 June AASB meeting - watching brief
2009/06 May AASB meeting - SME or not SME?
2009/05 April  AASB meeting - superannuation plans, financial instrument amendments
2009/04 Changes to mark-to-market accounting
2009/03 Financial reporting implications of the Carbon Pollution Reduction Scheme
Accounting & Tax alert IASB's income tax proposals - taxing times ahead
2009/02 March AASB meeting highlights - one, two or three tiered differential reporting?
2009/01 February 2009 AASB meeting - exposure documents approved or close to finalisation

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