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Thomson Reuters is pleased to announce the 2023 Not-For-Profit Financial Reporting Workshop which has been designed to make your financial reporting tasks easier, by being informed and prepared. Join David Sauer and Sonya Sinclair live at the workshop to be held in Sydney on 23 November or if you are unable to attend in person, invest in the pre-recorded online sessions and live “Answer your questions” webinar on the 22nd of November.
Make your financial reporting tasks easier and more informed. Invest in this workshop to participate via online or in person.
In early November you’ll receive links in to 3 x 1.5 hour self-study modules to work through as you have time. Then attend our live webinar where you can put your questions to our subject experts.
Topics covered will include:
Whether you work with the finance function of a not-for-profit entity, or are an accountant in practice or an auditor, join us at this highly interactive workshop and gain clarity on some of the more challenging areas of financial reporting.
Who will benefit from this workshop:
The program provides a “how-to” focus on accounts preparation suitable for:
Preparers of not-for-profit entity financial statements, auditors, financial controllers, financial accountants, finance managers, partners and staff of accounting practices, treasurers and secretaries with annual report responsibilities, agencies and regulators receiving financial information from NFPs
For any event enquiries, please email eventsanz@thomsonreuters.com or call us +61 2 9171 9768.
Self-study recording 1
Changes and developments affecting 2023 statements
Self-study recording 2
Presentation and disclosure: issues and examples
Self-study recording 3
Issues applying standards in NFP statements
Live webinar
Your questions answered.
Your presenters will work through:
8:30AM
Overview – what’s new and where to focus
Summary: Changes affecting charities, associations, companies limited by guarantee
Reporting impacts of wage rises and changes in employment laws
- Viability assessments
- Dependency / going concern disclosures
The new ATO lodgement of self-assessed income tax status for non-charity NFPs
- What are the various income exempt categories and their criteria?
- Tips and materials for smoothing the first-time process for NFPs
- Links to December 2023 financial statement disclosure
Proposed replacement of special purpose option with Tier 3 of accounting standards – what should you be doing now
10:15AM Morning tea
10:45AM
Related parties and remuneration disclosure
- First-time mandatory application to charity special purpose statements
- Frequent questions on who ae key management personnel and
- Examples of related party transactions in NFPs and how they may be disclosed
- What can be omitted
- What can be grouped
- When should related parties be named and dollars specified
- Non-monetary related party transactions that are sometimes forgotten
Sustainability disclosures for NFPs
- The new Sustainability Standards and proposed application 2024-2026
- What sustainability information must be considered under accounting standards, and what should be disclosed elsewhere, if at all?
12:30PM Lunch
1:30PM
NFP Income
- Examples of applying AASB 1058 / AASB 15
- Healthcheck income disclosures – tips for better presentation and compliance
Asset accounting
- Recap of how valuation and impairment rules apply to NFPs
- Fair value: appropriate steps in the years between formal valuations
2:45PM Afternoon tea
3:00PM
Leases: Outsourced management contracts, buyback options and other examples of NFP lease questions we’ve been asked
Contingent liabilities arising from contracts and arrangements
Case study: review of marked-up suggested changes in 2023 financial statements
4:30PM Close
David is an independent consultant specialising in external reporting and audit. He has provided practical professional development for accountants across Australia for over 30 years.
He worked for 11 years with Deloitte and then Moore Stephens, where he was involved with writing model financial statements. His training services are appreciated because of his understanding of the technical issues combined with an ability to communicate with affected parties of differing backgrounds.
David is able to draw on a wide range of circumstances to present training, including cases drawn from the technical advice he provides to accountants and directors of entities large and small.
David Sauer
B. Com., FCA, Principal
David Sauer, Chartered Accountant
Sonya has over 20 years of financial reporting and auditing experience with exposure to the Not-For-Profit sector, ASX-listed entities, large-companies, Government agencies and Auditor-General Departments.
As an independent advisor, Sonya specialises in practical application and technical aspects of financial reporting and auditing to professional accountants. Presenting at conferences and workshops, to shareholders, preparers of financial reports, accountants, and auditors across recent developments in financial reporting, auditing and ethics, she provides clarity and a deep understanding of the requirements.
Sonya also provides tailored training and development to professional accountants and auditors to enable them to continuously improve and keep up-to-date with key changes.
Sonya Sinclair
Director
Eco Risk & Consulting