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AASB Discusses NFP-Related Topics

At its most recent meeting in late May, the AASB Board held discussions in relation to a number of NFP-related accounting topics, including the use of ‘depreciated replacement cost’ as a measure of value in use under AASB 136 Impairment of Assets, the concept of reporting service performance information by NFP entities, and issues relating to the use of the Reduced Disclosure Requirements, which many NFPs have adopted within their financial statements.

Further detailed information on each topic can be found here.

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