Accounting and Financial Reporting Update 2015


Accounting and Financial Reporting Update 2015


On Thursday 19 February, ESV held its annual Accounting and Financial Reporting Update Breakfast event.  ESV has run this event for a number of years, as part of our mission to keep our clients informed and up to date on the latest accounting and business news.


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 examine trends and recent changes that are expected to impact businesses in the 2015 year.


We were privileged to once again have Carmen Ridley of Australian Financial Reporting Solutions and GAAP Consulting present the most recently issued accounting standards and their expected impact on businesses.  As a current member of the Australian Accounting Standards Board with over 15 years of experience in financial reporting, few are as familiar with these issues as Carmen.


In particular, Carmen’s presentation covered the following key considerations:

  • New accounting standards for the current financial year and the recent changes to fair value disclosures;
  • Amendments to investment entities and the appropriate accounting treatment of these entities;
  • ASIC focus areas in 2015, specifically the treatment of intangible assets from a regulator’s perspective; and,
  • Changes to how not-for-profit entities and other associated trusts should be accounted for in financial reporting.


Guests were given the opportunity to raise questions of relevance to their own business and in doing so were able to get answers from one of the industry’s most knowledgeable speakers.


ESV holds events such as the Accounting and Financial Reporting Update in order to provide our clients with the knowledge and information to help them on their business journey.  We are committed to informing our clients of important and relevant business updates through hosting valued events such as this and through our monthly Business Owners Bulletin – which you can subscribe for here.


We look forward to welcoming you to future events.


Article by Edwina Ring