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News from April 2019

Partner News: Right-of-Use Assets of Not-for-Profit Entities

The Australian Accounting Standards Board (AASB) has issued AASB2018-8 Amendments to Australian Accounting Standards – Right-of-Use Assets of Not-for-Profit Entities to provide a temporary option for not-for-profit lessees to measure a right-of-use asset arising under “concessionary leases” at initial recognition. Concessionary leases have been defined as those leases that have significantly below-market terms and conditions principally to enable an entity to further its objectives. The…

MCEC Sept 2024