AASB STAFF POST FAQs FOR NFPs

Australian Accounting Standards Board staff have posted eight new frequently-asked questions that will help NFPs.

 

They concern AASB 15 Revenue from Contracts with Customers, AASB 1058 Income of Not-for-Profit Entities and AASB 16 Leases. 

 

They cover the standards' scopes and effective dates, performance obligations under research grants, and identifying and recognising performance obligations in NFP schools.


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