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28 Nov. 2019

Upcoming Webinar: Accounting for Research Grants

The AASB decided at its November Board meeting to defer the application of AASB 15 and AASB 1058 by not-for-profit entities to research grants.
The webinar will be presented by the AASB staff, to clarify the deferral and to assist NFP entities to understand the requirements for research grants. The commentary will cover the amendments to the illustrative examples on research grants that accompany AASB 15, including the addition of Example 4D.  Additional key aspects to applying the Standards will also be discussed, including the effect of various contract clauses, such as the transfer of research information to another institution and cancellation clauses.

Link here.