AASB staff post FAQs for NFPs
Dan Wade • February 23, 2020
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.
From 1 July 2025 , interest charges applied by the Australian Taxation Office (ATO) are no longer tax deductible .
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