News & Views

Disclosures Required Under RDR Are Set to Tumble

ED 295 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities proposes to replace the current Reduced Disclosure Requirements (RDR) framework with a Simplified Disclosure Standard. All entities currently using the RDR framework will fall into this new regime. It is important to note the proposals in ED 295 are closely linked to those expected in the forthcoming Exposure Draft on the proposed removal of special purpose financial statements (SPFS).

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Moore Stephens Victoria deepens focus to include legal services

Moore Stephens Victoria has expanded its already extensive offering, with the launch of its new legal services division this month. Headed by Alex Nielsen, an accomplished lawyer with over 10 years’ experience in corporate, tax, real estate and asset management matters, the division will enable a multi-disciplinary approach for its growing clientele.

What does Australia need to do to stay ahead?

As we look towards the future, it is broadly agreed that Australia cannot continue to rely on luck and location alone. The most recent economic survey by Credit Suisse placed Australian’s as the second wealthiest people on the planet, closely behind Denmark.

To maintain this standard of living, the Australian government is acutely aware that we need to do something different going forward. The rhetoric from industry and government has for some time stated, “we can’t just keep digging it up and selling it, if we want to maintain our standard of living.”

SA Budget 2019-20: At A Glance

Taking advantage of low interest rates and following in the footsteps of our mainland counterparts, South Australia will increase debt by $7 billion over the next four years to fund a massive $11.9 billion infrastructure spending program.
 
The second Marshall Government budget — and the sixth for Mr Lucas — whilst short on surprises, looks to save money across a range of portfolios and programs, with select areas of Government spending increasing. Here’s our rundown of the key measures. 

SA Budget 2019: At a glance

It is the second budget delivered by Steven Marshall's State Government, with promises of funds for those wanting to get into the housing market and a new hospital. Treasurer Rob Lucas said if his latest budget were a person, it would be wearing "overalls and a high-vis vest". Find out what this year's budget means for you.

How incremental innovation can drastically help your business

If you are that person who thinks to be innovative your business needs to create the next great thing in the form of a new product or a new service, you are missing the whole point. Every business can bring innovation into its corporate culture just by adopting a ‘do better’ or aka incremental approach to innovation. Small changes in processes, service delivery and products can add huge value to your business with minimal impact on the expense items in your P&L. In fact, when done well, incremental innovation can be extremely profitable.

Is your company ready for its public debut?

Are you ready to take your company public? Moore Stephens’ latest corporate advisory recruit Benjamin Yeo has spent more than a decade skilfully guiding clients through the intricacies of preparing Initial Public Offerings (IPO) and outlines what’s necessary to successfully transform your company from private to public.
 

AASB 9 and the Expected Credit Loss Model

AASB 9 introduces a significant change in the way impairment is calculated and recognised compared to previous requirements.  This has created confusion as to how to apply these requirements to financial assets of organisations.  This article provides practical guidance for entities struggling to apply the new requirements.
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