Impairment (the provision for doubtful debts) aims to ensure the carrying amount of loans/other financial assets aren't overstated.
This checklist covers some key questions you should consider.
Regarding your entity and the transition to AASB 9 Financial instruments:
AASB 15 applies to both for-profit and not-for-profit entities. For-profit entities must apply AASB 15 for financial years beginning on, or after, 1 January 2018.
We host events each year to raise awareness of emerging issues related to public sector and local government performance.
Are you ready?
Accounting standard AASB 9 Financial Instruments has started. It started 1 January 2018 if you have a December year end and started 1 July 2018 if you have a June year end.
We have completed part one of our ‘renos’ and can’t wait to show you our new look.