Property Revaluation: Revaluation Reserve Treatment After Disposal

CaseWareAccounting Standards, Carmen Ridley, CaseWare News, Financial Reporting, opinion

Revalutaion Property Q&A

From Carmen Ridley, (CaseWare Financial Reporting content expert, AASB member & Principal – Australian Financial Reporting Solutions) an interesting client query and her answer. Q: My client has sold a property that was previously held under the revaluation model – what should I do with the revaluation reserve in relation to that property now that the property has been disposed? … Read More

Invest in the skills of your staff to keep them engaged

CaseWareCaseWare News

Invest in your teams skills to keep them engaged

“94% of employees say they would stay at a company longer if it invested in their learning and development.” No real surprise in this finding, recently published in the LinkedIn Learning 2019 Workplace Learning Report. Employees derive great satisfaction from being usefully engaged, solving problems and creating tangible outcomes for their company. Acquiring new knowledge and skills enables this ‘cycle … Read More

AASB 16 Lease accounting  – which discount rate?

CaseWareAccounting Standards, Carmen Ridley, CaseWare News, Financial Reporting

What is an appropriate discount rate for the calculation of lease liabilities? AASB 16 requires that most leases are brought on the balance sheet from 1 January 2019. I have been asked many times about the appropriate discount rate for the calculation of lease liabilities. Ideally, all leases would contain an implicit interest rate and then the answer is obvious … Read More

Revenue Recognition AASB 15 – What companies need to consider and DO NOW!

CaseWareAASB 15, Accounting Standards, Auditing, Auditing Standards, Carmen Ridley, Financial Reporting, Industry News, Legislation & Regulation

Author: Carmen Ridley, Principal – Australian Financial Reporting Solutions (www.afrs.com.au). Member of the AASB, and a specialist consultant for CaseWare Australia & New Zealand. The panic has finally kicked in I have been presenting about the changes to the revenue accounting standard AASB 15 for a number of years, since IFRS 15 was issued in May 2014 (followed by AASB … Read More

ASIC Update: Focus Areas for 2017-18 Released

CaseWareAccounting Standards, Carmen Ridley, Financial Reporting, Industry News

ASIC June 30 2018 Reporting

ASIC recently released the latest focus report for 30 June 2018 reporting. Titled “Major changes affecting reported net assets and profit, and other focuses for 30 June 2018 reporting”, ASIC has taken the opportunity to remind companies to focus on new requirements that can materially affect reported assets, liabilities and profits. In all, the ASIC article has a total of … Read More