Accounting standards are difficult to read, difficult to interpret, and difficult to stay up to date with. Not only this, but the accounting profession’s interpretation of them can even shift, and new trends emerge.
Our FRS experts stay on top of these developments with hours of training attendance, training presentation, and authorship of books and articles.
FRS can offer advisory services to assist you to navigate your way through the depths of complexity created by accounting standards. We can analyse transactions and apply the requirements of relevant accounting standards or the Corporations Act to provide a compliant and complete recognition, measurement and disclosure outcomes.
We can prepare detailed technical papers that you can use for internal governance purposes. These policy papers are often required to demonstrate to your auditors why you have chosen to adopt a particular accounting treatment.
New to accounting standards such as AASB 9, AASB 15 and AASB 16?
Recently issued accounting standards can be difficult to interpret and difficult to adopt. Businesses are going to need support to assist them in transitioning to the requirements of: