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AASB Extends AASB 15 Start Date

The AASB, by way of AASB 2015-8 Amendments to Australian Accounting Standards – Effective Date of AASB 15, has deferred the effective date of AASB 15 Revenue from Contracts with Customers to 1 January 2018. Previously the start date was 1 January 2017.

AASB 15 is an important accounting standard for not-for-profits, from the viewpoint of how revenue needs to be accounted for.

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