2017 Accounting and Financial Reporting Update

Carmen Copy
7
Mar

2017 Accounting and Financial Reporting Update

07.03.17

On Tuesday 28 February, ESV held an Accounting and Financial Reporting Update for 2017 – an exclusive event for CFOs and other senior finance professionals to examine key financial reporting trends and changes expected to impact businesses in the coming year.

 

We were privileged to have Carmen Ridley of Australian Financial Reporting Solutions and GAAP Consulting to present the latest changes to Australian Accounting Standards.  As a current member of the Australian Accounting Standards Board, Carmen is well-versed in these issues.

 

Carmen shared insights on recently issued accounting standards and their potential impact on businesses, most notably covering:

  • New accounting standards for the current financial year in relation to revenue, financial instruments and leases;
  • New policies around revenue recognition from contracts with customers;
  • Further changes to how revenue for not-for-profit entities should be accounted for in financial reporting; and
  • Other recognition and measurement issues relating to warranties, contract costs and licensing.

 

Accountants are often seen as reactors to financial information for periods that have already passed.  At ESV, we believe in looking forward to proactively navigate the risks before they occur. 

 

It is for this reason we created the Accounting and Financial Reporting Update, to provide our clients with the knowledge and information needed to help their business thrive in the coming year. 

 

ESV regularly holds events such as the Accounting and Financial Reporting Update in order to provide business owners and senior finance executives with the knowledge and information to help them on their business journey.  If you are interested in attending future informative events or webinars, please contact us or subscribe to our monthly Business Owners Bulletin to stay informed of the latest industry updates and trends.

 

We look forward to welcoming you to future events.