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      Guidance for 31 December 2025 financial reporting

      KPMG’s financial reporting webinar focuses on new accounting standards effective and available for early adoption, ASIC’s focus areas and important regulatory updates that impact interim and annual financial reports at 31 December 2025. We also discuss recent developments in the Australian specific sustainability reporting environment.

      We share our insights on lease modification accounting, an area where we get recurring questions from our clients and engagement teams.

      What’s new for 31 December 2025 financial reporting?

      This December marks a huge milestone for our Group 1 reporters, as they prepare sustainability reports for the first time.

      The international and local standard setters are continuing to develop new accounting standards and amendments to address stakeholder needs for better information, including the IFRS Interpretations Committee meeting to make IFRIC agenda decisions.

      Regulator scrutiny on fair and transparent reporting remains heightened with all these changes; and there is now added focus on timeliness of reporting.

      Watch the 31 December 2025 Financial Reporting Webinar

      In our webinar we discuss:

      1. New accounting standards and IFRIC agenda decisions effective for 31 December 2025
      2. Important regulatory updates, including ASIC’s focus areas 
      3. Accounting for lease modification
      4. Updates on Australian sustainability reporting
      5. Forthcoming standards and amendments available for early adoption as at 31 December 2025.

      Download

      Download

      Are you ready for 31 December 2025 reporting?

      Financial reporting webinar presentation slides.
      Download

      Tips for 31 December 2025 financial reporting

      • Review the newly effective accounting standards

        and amendments and assess their impact on your organisation.

      • Remain alert to regulatory developments

        and ASIC’s focus areas, consider whether they impact preparation of financial statements and sustainability report.

      • Remember modification of lease contracts generally result in adjustments to right of use asset

        except in situations where there is decrease in scope or forgiveness of specific lease payment.

      • Analyse the terms of your financial assets carefully

        as solely-payments-of-principal-and-interest (SPPI) requirement can still be met even with contingent and non-recourse features.

      • Consider if you have a separate derivative or executory contract to acquire power

        if you have contracts to acquire carbon credits or large-scale generation certificates.

      • Get ready for AASB 18

        and start thinking about the characteristics that would be most appropriate for your organisation for aggregating/ disaggregating information.

      Connect with us

      Further financial reporting resources

      Resources and guidance for the preparation of relevant, compliant and useful financial reports.
      Financial Reporting Centre

      General purpose financial statements illustrating financial reporting requirements in Australia.
      Read more

      Australian sustainability reporting standards are now in effect, with first annual reporting periods beginning 1 January 2025 for Group 1 entities.
      Read more