Australia

Details

  • Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 14/11/2011

Reporting Updates

Reporting Updates
Reporting Updates (formerly known as Flash Reports) outline changes occurring within the Australian financial reporting environment.

11RU-017 Financial reporting impacts of carbon legislation 

This Reporting Update focuses on the immediate financial reporting issues of the Clean Energy Act by providing examples of how the carbon price mechanism may impact an entity’s impairment testing models and discusses the related disclosures for 31 December 2011 financial statements.

Key Points

  • The Clean Energy Act passed by Parliament
  • Entities impacted need to consider their financial reporting obligations at 31 December 2011.
IFRS Briefing Sheets - International financial reporting updates 

Financial Reporting & Accounting Standards

KPMG has extensive experience in applying accounting standards, both Australian accounting standards and IFRS, to a range of transactions.