General Purpose Financial Statements Simplified Disclosures (June 2026)
R&D Tax Incentives: Getting the accounting right
Key points The refundable/non‑refundable distinction is the starting point for determining whether R&D offsets are accounted for as grants (AASB 120) or income taxes (AASB 112). Refundable offsets are usually accounted for as government grants, while non‑refundable offsets are typically treated as income tax. The most common problems are premature recognition, inconsistent policies and thin […]
Accounting for customer incentives (volume rebates and loyalty programs)
Key points Volume rebates and customer loyalty programs are accounted for under AASB 15 Careful consideration of these are required as they impact the recognition of revenue and liabilities Applying AASB 15 often involves significant judgement, and entities should seek expert advice for complex or unique circumstances Many inventory-based businesses offer customers a number of incentives to enhance customer loyalty. This article considers two common arrangements, being volume rebates and customer loyalty programs, and the […]
Large Proprietary Company Test (January 2026)
ASIC late lodgement penalty updates: What it means for you
Key points ASIC has updated its enforcement priorities for 2026 – and there is an increase in ASIC action There is a focus on financial misconduct, including significant penalties for any infringement notice Non-lodgement is a strict liability offence ASIC recently announced its recent enforcement priorities – one of which is financial reporting misconduct including […]
Accounting for customer rights (returns and warranties)
Key points Customer rights to return products and extended warranties are accounted for under AASB 15 Careful consideration of these are required as they impact the recognition of revenue, assets and liabilities Applying AASB 15 often involves significant judgement, and entities should seek expert advice for complex or unique circumstances. Many inventory-based businesses offer customers a […]
Consolidated Entity Disclosure Statement – September 2025
Revamping the P&L under AASB 18: Impact for asset investors
Key points AASB 18 introduces new presentation and disclosure requirements for for-profit entities from 1 January 2027. Entities investing in assets must classify certain income and expenses in the operating category. Classification of income and expenses depends on the entity’s main business activity AASB 18 Presentation and Disclosure in Financial Statements first applies to for-profit […]
Joshua Archer
Joshua is a skilled member of the Business Advisory and Assurance team, focusing on Audit. He joined Pitcher Partners in 2024 as a Client Director, bringing with him extensive experience gained across Australia and the UK. Throughout his career, Josh has worked with a range diverse of clientele, spanning both private and public sectors, with […]