Charities Accounting: Exchange and Non-Exchange Revenue
This webinar seeks to address some of the practical issues that have arisen for members in applying these new standards, in particular, exchange and non-exchange revenue.as well as briefly addressing the upcoming implementation of SSPs
In recent years, New Zealand’s accounting standards framework has become more complicated with the External Reporting Board’s decision to take a multi-standards, multi-tiered approach in its accounting standards framework. This change has required members who account for charities to begin to apply the new PBE standards.
In this webinar, Brayden Smith of Grant Thornton and Jamie Cattell of Charities Services seek to address some of the practical issues that have arisen for members in applying these new standards. Highlights include:
- The application of revenue standards (PBE IPSAS 9 and PBE IPSAS 23) in determining the difference between exchange and non-exchange revenue (including a very informative interactive quiz).
- An update on the on-going changes for statements of service performance (SSP) and consolidated financial statements (PBE IPSAS 35) including the newly approved SSP standard (Tier 1 & 2) and challenges faced by Tier 3 and 4 entities.
- Discussion of other current issues including the definition of “control” and when a consolidated performance report or set of financial statements are required.
Upon satisfactory completion of this webinar you will be able to:
- Differentiate between exchange and non-exchange revenue;
- Explain the newly approved SSP standard for tier 1 and 2 entities and application of PBE IPSAS 35.
- Describe the other practical accounting issues that are now arising in the charity accounting space and how to address them.
Charity accounting specialists will step you through current charity accounting issues which should then allow you to effectively address those issues as you come across them in your work. You will also be provided with an opportunity to pose charity accounting related questions to the presenters.
Brayden Smith is a Partner in Grant Thornton with 23 years experience as an assurance practitioner. He has a strong background in the not-for-profit sector and led the development of Grant Thornton’s PBE IPSAS implementation technical guidance.
Jamie Cattell is a Chartered Accountant at with a background in Financial Statement Audit and Controls Assurance at PwC. He has a strong personal interest in charity, having served on the board of a small registered charity.
Sub-Topic: Financial Reporting
Format: Recorded Webinar
Proficiency Level: Intermediate, Advanced
CPD: 1 hours