Is there a ‘State of Origin’ in your workplace?

As the excitement builds for tonight’s State of Origin decider, I’ve been thinking about the unique team environment that Origin players must operate in.

We’ve all heard the “Mate Against Mate” line and watching week-in-week-out teammates play against each other usually gives us a really exciting game of footy.

But what is it like inside the team camps? How do players go out on the field and aim to smash guys they usually play alongside?

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Unlocking the value of PPAs – Accounting for an acquisition is not just about compliance: Two part series

Part I: What’s the Value in a PPA?

A Purchase Price Accounting (PPA) is the process of allocating the consideration paid in a business acquisition (“Business Combination”) to the assets acquired and liabilities assumed (including intangible assets). It provides a day one balance sheet for the acquirer, setting out the individual assets/liabilities that have been acquired from the target company. The PPA process analyses individual assets and business processes in a level of detail that is often not explored. Fundamental to this analysis is a clear understanding of the target’s core operational drivers.

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Impact of AASB 124 Related Party Disclosures on Public Sector Entities

AASB 124 Related Party Disclosures came into effect on 1 July 2016 for not-for-profit public sector entities. The purpose of disclosures about related parties is that knowledge of an entity’s financial relationships with related parties may affect how a user of the financial statements assesses an entity, including the appropriateness of its transactions with, and exposures to, related parties.

Although many public sector entities, such as departments and statutory bodies, have been disclosing compensation paid to key management personnel (KMP) for many years, these disclosures will be new for some entities such as local governments.

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Involved in cross-border intragroup financing transactions? The ATO is on your back!

Encouraged by its recent win in the landmark Chevron court case, the Australian Taxation Office (ATO) has today released new compliance guidelines targeting intragroup loans and other financial arrangements of multinational companies.

This is an important development for the ATO, as it expects to raise significant tax revenue as a result, and it also means compliance costs will increase for taxpayers.

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