Servicing Greater Sydney, Parramatta

Accounting for Revenue: Get Prepared - Changes in recognition, timing and disclosure under AASB 15

Without prior planning and changes to your systems, the implementation of Accounting Standard AASB 15 Revenue from Contracts with Customersmay have significant adverse impacts on the timing and amount of revenue recognised in your financial reports.

Some of the possible impacts on each industry are:

  • Retail Businesses: Allocation of a component of revenue to warranty and product guarantees and the spread of that revenue over time (rather than on sale).
  • Wholesale businesses: Changes in accounting for volume discounts and consignment revenue.
  • Manufacturing, Construction and Project Businesses: Default position to account for all revenue on completion unless specific terms are included in customer contracts.
  • Service and Professions: Limited ability to recognise revenue from work in progress.

Attending this technical seminar is a must for financial accountants who have responsibility over accounting policies, systems and processes or are involved in the financial reporting process. Executives or commercial advisors may also find this seminar useful in understanding the impacts of contract terms on the ability of a business to recognise revenue and profit in the financial report.?

 

Event Details:

Date: Thursday 23rd November 2017

Time: 8.15am - 11.30am

Venue: Spry Roughley,

Level 3 55 Phillip Street

Parramatta NSW

Fee: $40.00 (inc GST)

Morning Tea & Light Refreshments will be provided

Enquiries: Jennifer Turner

Ph: 02 9891 6100

RSVP Wednesday 15th November 2017

Register your Attendance

Places will be limited, so please book early to avoid disappointment.

About the Presenters


Fergus Roughley, Spry Roughley Chartered Accountants

Fergus is an Audit and Client Service Partner at Spry Roughley Chartered Accountants. Fergus' strength in financial reporting, analysis and presentation has been shaped by his unique experience in audit, forensic accounting and software development. He has a real passion for building automated systems and processes to provide up to date business reporting that adds value to businesses and their owners.

Anthony Saccaro, Spry Roughley Chartered Accountants

Anthony is an Audit and Client Service Manager at Spry Roughley. With over 10 years audit experience in a range of different industries, Anthony has developed a deep knowledge and understanding of financial reporting requirements and best practice disclosure initiatives. He has a keen interest in helping clients understand their accounting systems and processes and idetnifying risks and efficiencies.

  • Our firm is built on being attentive to and extensively knowledgeable about our clients so we can work with them to help them to both achieve their goals and protect them from risk. We are forward looking in our advice and always aim to be practical and right.
    - Martin Roughley, Managing Director
  • In business, there is so much going on and you don’t always have all the answers. That’s when you need to know who to call. Our clients call us.
    - Shaun Madders, Director
  • Going beyond the compliance and routine is what we do. By maintaining open and frank communication we are able to provide valuable insights and assist in driving the changes required to help our clients achieve their goals.
    - Fergus Roughley, Director