Accounting for income of not-for-profit entities

Accounting for income of not-for-profit entities

Watch a recording of our webinar held on 21 February 2017 for an introduction to the changes to income recognition requirements that will apply to not-for-profit (NFP) entities for years beginning 1 January 2019, with early adoption permitted.


Partner, Audit

KPMG Australia


Also on

Businesswoman sitting in front of a laptop

Brave new world

These rules sit in a new standard called AASB 1058 Income of Not-For-Profit Entities and a Not-for-Profit Entities Guidance to AASB 15 Revenue from Contracts with Customers.

AASB 1058 applies to transactions where the consideration paid to acquire an asset is significantly less than the fair value of that asset, principally for the NFP entity to achieve its objectives.

Webinar outline

  • An overview of the new recognition and measurement requirements for income and related amounts contained in AASB 1058 Income of Not-For-Profit Entities
  • Changes for NFP entities in applying AASB 15 Revenue from Contracts with Customers under Appendix F Australian Implementation Guidance for Not-for-Profit Entities
  • Interaction of the new income recognition requirements with other standards such as AASB 9 Financial Instruments and AASB 16 Leases
  • Implementation considerations and challenges.

Presentation slides

View a copy of the slide presentation from the webinar.

Accounting & Reporting Webinars

Our webinars provide regular updates on the changing world of accounting and financial reporting and how they may impact your business.

Read more

Audit and Assurance

Audit and Assurance

Independent audit services to help enhance the reliability of information prepared by clients for use by investors, creditors and stakeholders.

Connect with us


Request for proposal



KPMG’s new-look website

KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.

Read more