Not-for-Profit Income Webinar (Day 1) - Getting To Grips With Principles And Mechanics
Confusion and challenging are words we associate with the accounting standards on Not-for-profit income, even though it is 2 years since they became mandatory. Financial statement preparers and auditor’s express frustration at the time they take to apply the rules and resolve differences in views. It can be difficult to match the contents of grants with the language of the standards. Reviews of statements lodged with the ACNC show plenty of organisations are not on top of their revenue and grant accounting.
Description
- Which accounting standard applies – AASB 15 or 1058?
- What the 5 steps of AASB 15 mean for NFP scenarios
- The meaning of performance obligations
- Identifying and tracking a quantifiable measure
- The sufficiently specific criteria
- What words or acts meet the “enforceable” criteria?
- Applying the principles to key funding and income streams
- Core funding
- Donations and bequests
- Research grants, joint venture contributions to development of intellectual property
- Volunteer services
- Asset contributions
- Peppercorn leases
- Gains through mergers, takeovers, reconstructions (contributions, equity injections)
- Disclosures in financial statements
WHY ATTEND
- Gain a clear understanding using examples you can relate to
- Included - Excel based assessment and documentation tool
- Practical commentary that helps you address a problem area with sensible perspective
- Illustrated examples you can review again later as a permanent reference
- Stepped learning modules, working from basics of the accounting standards through to application in specific scenarios
- An opportunity to take charge and replace ongoing differences of opinion with a confidence
PRESENTER
David Sauer B. Com., FCA
Principal, David Sauer, Chartered Accountant
David is an independent consultant specialising in external reporting and audit. He has provided practical professional development for accountants across Australia for over 30 years.
He worked for 11 years with Deloitte and then Moore Stephens, where he was involved with writing model financial statements.
His training services are appreciated because of his understanding of the technical issues combined with an ability to communicate with affected parties of differing backgrounds.
David is able to draw on a wide range of circumstances to present training, including cases drawn from the technical advice he provides to accountants and directors of entities large and small.
Sonya Sinclair
Sonya has over 20 years of financial reporting and auditing experience with exposure to the Not-For-Profit sector, ASX-listed entities, large-companies, Government agencies and Auditor-General Departments.
As an independent advisor, Sonya specialises in practical application and technical aspects of financial reporting and auditing to professional accountants. Presenting at conferences and workshops, to shareholders, preparers of financial reports, accountants and auditors across recent developments in financial reporting, auditing and ethics, she provides clarity and a deep understanding of the requirements.
Sonya also provides tailored training and development to professional accountants and auditors to enable them to continuously improve and keep up-to-date with key changes.
CANCELLATIONS
Cancellations made 3 days or more prior to the events start date can be rescheduled to a more suitable date or Refunded
Cancellations made less than 24 hours of the events start date or after the event has started: No refund
No shows - No Refund
CPD credit information
3 points