About the webinar
With charities and NFPs representing such a large part of the Australian economy, their unique financial reporting problems continue to preoccupy their accountants as well as their advisers and auditors. This presentation will examine some of the reporting issues peculiar to NFPs and charities, including:
- Revenue recognition and grants
- matching revenue with expenditure
- terms of grant
- recurrent vs non recurrent
- AASB 1004 vs new revenue standard
- What we can expect with new revenue standard for NFPs and charities – will the problem be resolved?
- Service reporting – performance reporting, service delivery statements
- Integrated reporting and sustainability
- Controls over cash donations
- Controls over other activities
- Accounting for donated goods – goods close to use by date – audit
Who should attend
This webinar is suitable for accountants advising not for profits, and executives working for not for profits and charities – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.
Keith Reilly, Financial Reporting Consultant & Lecturer, Macquarie University
Keith Reilly is a financial reporting consultant and covers accounting, auditing and ethical standards, as well as governance and regulatory issues. He has some 40 years’ experience in the financial reporting field, most recently (July 2013) being the National Head of Professional Standards at Grant Thornton Australia, and a member of Grant Thornton’s International Public Policy Group, Independence Working Group, and IFRS Committee.
He was previously the technical director and advisor for the Institute of Chartered Accountants in Australia, and has also worked with the Australian Securities Regulator (ASIC), been an advisor to a major institutional Australian stock broking firm, and a former Research Director and Auditor for two Australian Big 4 audit firms.
Keith consults, writes and lectures extensively on financial reporting issues. He is a former member of the Australian Accounting Standards Board’s Urgent Issues Group and a member of the Accounting Professional and Ethical Standards Board’s Code of Ethics Taskforce