The Bottom Line aims to keep you in the loop with all the latest accounting and financial reporting developments, and the potential impact they may have on your business.
The Bottom Line – Issue 8
Category: COVID-19
Governance trends for NFPs
A look back at the trends and focus areas that have arisen in 2020 for NFP board members and governance professionals.
JobKeeper extension: phase 2 update
From 4 January 2021, businesses and not-for-profits should reassess their turnover to be eligible for the JobKeeper Payment.
Victoria’s Business Survival and Adaptation Package
In response to Melbourne’s extended restrictions, the Victorian Government announced the Business Survival and Adaptation Package ($3 billion).
Rebuilding your superannuation
Four superannuation strategies that could help to boost retirement savings if your super balance took a hit during the pandemic.
JobKeeper and mini budget update
Federal Treasurer Josh Frydenberg recently released the Government’s interim Economic and Fiscal Statement which sought to reconcile Australia’s Budget position following $289 billion worth of COVID-19 measures.
Post-COVID-19 Enterprise Risk Management
The COVID-19 crisis has demonstrated that the traditional approach to Enterprise Risk Management needs to be re-assessed. ERM needs to evolve to better manage risks.
Accounting for JobKeeper payments
JobKeeper has recently been the topic of much debate in technical circles. This article considers the accounting treatment of JobKeeper payments for both for-profit and not-for-profit entities.
Accounting for rent concessions
The IASB has offered some practical relief to simplify the accounting for changes to lease arrangements that are directly linked to the pandemic.
Spotlight on Melbourne
Steering a business through the murky waters of COVID-19 isn’t without its challenges but, as Melbourne’s Jeff Long can attest, careful planning can mitigate the impact with opportunities already emerging.