New accounting treatment to impact small business

IFRS 16 Leases was introduced by the IASB last week in attempt to bring transparency to lease obligations by requiring all leases to be reported on a company’s balance sheet as assets and liabilities.Ralph Martin, audit technical director for mid-tier firm Crowe...
SMEs reveal employment ‘pain points’

SMEs reveal employment ‘pain points’

The MYOB Business Monitor, a biannual national survey of more than 1,000 SME business owners, revealed the ‘pain points’ that are a current thorn in the side for small business, with 27 per cent of respondents indicating that being able to find new staff...

Market volatility a ‘serious blow’ to retirees

“The current volatility is a reminder of how much risk ordinary people now face not just in saving for retirement but in more and more aspects of their daily lives,” stated Business School economist Mike Rafferty.Mr Rafferty added that “for people in or near...

Deloitte unveils 2016 regulatory outlook

Launching it’s 2016 outlook report, the Deloitte Asia Pacific Centre for Regulatory Strategy has indicated that the challenge of regulatory policy development can be grouped into the themes of resilience, culture and conduct and technology for the coming year....

IASB unveils transparency for lease obligations

IFRS 16 Leases replaces accounting requirements introduced more than 30 years ago that the IASB says are no longer considered “fit for purpose”.The IASB noted that previously leases have been categorised as either finance leases (which are reported on the...