Revenue Recognition under the new AASB 15
The amount and timing of revenue recognition is changing. Are you ready?
May 03Thu 10:30 AM AEST - Thu 11:30 AM AEST Online
- $180.00 incl. GST
- PD hours: 1
The AASB has fundamentally changed the financial reporting landscape for how entities recognise revenue, with the introduction of AASB 15 Revenue from Contracts with Customers. The changes can be complex and can have effects beyond just the accounting. When adopting AASB 15, including deciding which transition route to apply, you need to consider the commercial and practical impacts of the changes in your accounting. As choices you make will affect the way the performance of your business is measured and reported, it is vital to consider not only the commercial and practical issues, but also any tax impact of these changes
This webinar will provide a high level overview of the requirements of AASB 15, and by using case studies and detailed worked examples, we will demonstrate:
• How your revenue recognition will be impacted
• How your current agreements will be affected
• Which processes and systems will need changing
• Which wider business planning activities will be affected
• What staff training will be required
Webinar Learning Outcomes:
• Explain the new 5-step revenue recognition model, and
• Describe the financial, operational and business impacts of the new standard and the wider impact on various industries.
• All organisations who earn revenue, including not-for-profit entities
• Consultants and tax practitioners that provide advice on asset procurement and leasing strategies, and
• Preparers and auditors of financial reports.
Aletta Boshoff is a Partner & National Leader, for IFRS Advisory at BDO Australia. She has over 25 years’ experience in financial reporting and accounting, including IFRS. Aletta prides herself on her technical excellence, approachability, and the ability to solve problems practically. Aletta loves accounting and accounting standards, but she is also of the view that it's only when you try and apply that knowledge that you are really challenged and that it is only then that you fully appreciate the nuances of IFRS.
In particular, Aletta takes great pride in her ability to apply a wealth of technical expertise to real-world business situations. She works hard to ensure she is working with her clients, involving them at every step of the journey. She helps them to understand how she came to a recommendation, so that they can test any assumptions she has made and together they can come to the best IFRS solution possible.
You will be provided with:
• PowerPoint presentation slide deck
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
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