Changes in the Regulatory Environment for Financial Reporting from December 2017 to March 2018

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Financial Accounting

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Newsletter on Changes in the Regulatory Environment for Financial Reporting for Period
from December 2017 to March 2018
The ISSUE Includes:
Technical Issues in the Reporting Environment
New Changes Ready for Comments
Amendments to ASX Listing Rules
Other Information
Introduction
This newsletter is prepared with the aim of discussing the recent change that took place in
the regulatory environment for financial reporting from the period December 2017 to March
2018. The newsletter has provided specific knowledge to the staff members of the various
accounting firms so that they can increase their understanding of the various issues. The
information provided to them will assist them to develop and review the general purpose
financial statements’ of business entities adequately that are listed on ASX.
Changes in the Accounting Environment
This type of news is essential to be provided to the staff members so that they can gain
knowledge regarding the new standard issues and the necessary changes that they will cause in
the financial reporting framework.
Amended Accounting Standards
AASB Projects Ready for Comments
There are many ongoing projects undertaken by AASB that read waiting to get reviewed
on the exposure draft for creating a new standard. These include ED 281 for accounting
estimations, ED 280 for changes in measurements of Property, Plant and equipment and ED 278
requiring changes in the reporting of operating segments...You can read more information on
this on: http://www.aasb.gov.au/Work-In-Progress/Pending.aspx