What's New in 31 December Financial Statements

What's New in 31 December Financial Statements

With the end of the 30 June 2009 financial reporting season it may be tempting to take your foot off the pedal. Preparers of financial reports should, however, be aware that another wave of amended accounting standards & interpretations applies for periods beginning on or after 1 January 2009.

New or Revised Australian Accounting Standards

This reporting season brings with it a whole raft of new and revised accounting standards which are likely to affect disclosing entities that lodge half-year financial statements or, similarly, disclosing entities or large private entities lodging 31 December 2009 annual financial statements. We...Read more

Interpretations

It is important to be aware that a number of Interpretations to the Australian Accounting Standards (AASB) have also been changed ahead of the 1 January 2009 financial reporting period. Some of the most significant changes expected to affect reporting entities have been summarised below. Interpr...Read more

Amending Accounting Standards

The Australian Accounting Standards Board (AASB) has made a variety of changes to exsiting Accounting Standards to provide additional clarity for both preparers and users of financial reports. In this section we take a look at a number of the most significant ammendments and their consequences. ...Read more

Contact Us

For assistance or more information on any of the issues highlighted in this edition of Accounting Update please contact your local William Buck Advisor at www.williambuck.com.au. Alternatively you can contact an Assurance Director directly using the details shown below: ...Read more

Disclaimer

The material in this newsletter is for the benefit and information of clients. The items are in the nature of general comments only, and are not to be used, relied or acted upon without seeking further professional advice. William Buck accepts no liability for errors or omissions, or for any loss...Read more