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Income of Not for Profit Entities: AASB 15 and AASB 1058

The AASB have produced a webinar education session covering key topics relating to the application of AASB 15 and AASB 1058 by not-for-profit entities.

The webinar focused on some of the key topics in applying the accounting standards requirements including:

  • considering whether a contract has sufficiently specific performance obligations;
  • principal vs agent considerations;
  • identifying which Standard applies to various types of income of not-for-profit entities;
  • assessment of agreement enforceability;
  • capital grants and grants received in arrears.

To access the slide pack, click HERE
To view the AASB FAQs, click HERE
To view the AASB fact sheet on accounting for income for NFP entities, click HERE

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