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Property Plant and Equipment Newsletter

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Added on  2020-02-24

Property Plant and Equipment Newsletter

   Added on 2020-02-24

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Running head: NEWS LETTERNews LetterName of the StudentName of the UniversityAuthors NoteCourse ID
Property Plant and Equipment Newsletter_1
1NEWS LETTERCHANGES Stated in the accounting standard by AASB From 1st May 2017 to 4th August2017AASB Road Map forTransparency in Tax:(16-5-17)The overseas investors and theAustralian stakeholders havelaid down to view regular andequal tax position oforganizations. Such supervisionoffers the companies with thefacilities of communicating theirtax information which isconsistent with the alteringinternational disclosure practicetogether with the disclosurerequirements of ASIC regardingthe Non-GAAP. This needs thedisclosure of an ETR dependingupon the corporate tax with theobjective of enabling thecompanies to comply with taxrate. Such kind of directions assistin establishing the necessarydisclosure with the purpose ofascertaining that the interestedparties are able to understandthe variations amid the ETRunder the code and ETR forbookkeeping in agreementwith the accounting standard. Contracts associated withinsurance: (18-05-17)The insurance analyst ofAustralia would follow theadvantage from the enhancedinternational comparisonwhich is given with the helpof IFRS 17 contracts which isissued by the IASB. According to this contract,the international insurers arenot permitted use historicalcost during the preparationof financial reports. With thehelp of this contractopportunities are provided tocreate a balance andunprofitable business underthe solitary portfolioresulting in earlyidentification of losses.ED 280 Property Plant andEquipment The ED 280 Property Plantand Equipment lays downthe proposal of narrowingthe amendments to AASB116- Property, Plant andEquipment.
Property Plant and Equipment Newsletter_2

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