Welcome to the latest edition of our corporate reporting publication that aims to keep you in the loop with all the latest accounting, financial and sustainability reporting developments, and the potential impact they may have on your business.
In this issue, we continue to explore AASB 18 but move beyond the income statement, examining one of the standard’s most significant changes: management-defined performance measures. We explain what these are and what the new disclosure requirements mean for entities that use measures such as underlying profit and EBITDA.
We also discuss ASIC’s increased focus on late financial reporting by large proprietary companies, the reporting relief available to wholly-owned subsidiaries, and a remade ASIC rounding instrument that may require a slight update to your financial report templates.
In this issue:
New Accounting Standard
- A guide to AASB 18: Part 4 Management-defined performance measures
Aged Care
- Navigating the new aged care Financial and Prudential Standards
Regulatory
- Large proprietary companies should revisit their reporting obligations
- New ASIC instrument, same rounding relief