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PKF Australia

Accountants and Business Advisers

Our Blogs

10 08 2018

Top of ASIC Agenda – Impairment Assessments

As we roll past the 30 June 2018 financial year end, many companies will be turning their attention to the preparation of annual impairment assessments over their major assets. As in previous reporting periods, the Australian Securities and Investments Commission (ASIC) continues to have a significant focus on impairment testing and asset values.

10 08 2018

Increased Focus on Director Obligations

It’s fair to say that the expectations and skill sets demanded of company directors has never been higher. With significant requirements around corporate governance, keeping abreast of corporate regulations and other relevant legislation – not to mention the ever-dynamic changes in financial reporting and accounting standards – being a Director in these current times is challenging.

10 08 2018

The Landscape of Governance in 2018

In late May/early June, the Governance Institute of Australia held a series of Governance and Risk Management Forums across Australia. PKF was pleased to act as national sponsor for these events and to have an active role in each Forum as they moved across the country exploring current themes.

10 08 2018

Accounting for the Research & Development Tax Incentive

Lately, we are increasingly being asked for guidance on the correct accounting for Research and Development (R&D) Tax Incentives received. As an investment tax credit is accounted for either as a government grant or as income tax or as both but alarmingly it falls outside the scope of both relevant accounting standards AASB 112 Income taxes and AASB 120 Accounting for Government Grants and Disclosure of Government Assistance.

10 08 2018

Have You Assessed the New Accounting Standards Yet?

As we enter into another financial reporting season, financial report preparers are in the process of drafting their annual reports.

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