20 Aug. 2010
The AASB has issued ED 202 Leases, incorporating IASB proposals, which aims to improve the transparency of lease accounting and make financial statements more comparable for investors.... Read more
9 Aug. 2010
The AASB has issued ED 201 Insurance Contracts for comment by 8 November 2010.... Read more
8 Jul. 2010
Australia and New Zealand are now one step closer to having a common set of financial reporting standards, as a result of the release of exposure drafts that will amend financial reporting standards in Australia and New Zealand.... Read more
30 Jun. 2010
The AASB has approved AASB 1053 Application of Tiers of Australian Accounting Standards, which will significantly reduce the disclosure burden and reduce the costs of preparing and auditing financial reports for most entities that currently apply full International Financial Reporting Standards (IFRSs) as adopted in Australia.... Read more
21 May. 2010
The AASB has sent a submission to the International Accounting Standards Board (IASB), which disagrees overall with the proposals in the IASB Exposure Draft Measurement of Liabilities in IAS 37.... Read more
13 Apr. 2010
A decision on whether to develop an International Financial Reporting Standard (IFRS) on extractive activities will be made by the International Accounting Standards Board (IASB), based on feedback on its discussion paper DP/2010/1 Extractive Activities. The AASB has issued this for comment in Australia as invitation to comment ITC 23.... Read more
26 Feb. 2010
The Australian Accounting Standards Board (AASB) is seeking comments on exposure draft
ED 192 Revised Differential Reporting Framework... Read more
14 Jan. 2010
The AASB has released ED 191 Measurement of Liabilities in IAS 37... Read more
9 Dec. 2009
The AASB today issued AASB 9 Financial Instruments, which simplifies the classifications of financial assets into those to be carried at amortised cost and those to be carried at fair value.... Read more
4 Dec. 2009
The volume of disclosures required of most entities in the private and public sectors will be substantially reduced if proposals in a Consultation Paper by the Australian Accounting Standards Board (AASB) are adopted.... Read more
19 Nov. 2009
The AASB is seeking comments on an exposure draft ED 189 Financial Instruments: Amortised Cost and Impairment, which proposes to clarify the amortised cost model and to rationalise and improve the approach to measuring and reporting impairments of financial assets.... Read more
1 Oct. 2009
Kevin Stevenson, Chairman of the Australian Accounting Standards Board (AASB), has announced the appointment of Co- Deputy Chairs of the AASB; Bruce Porter and Ian McPhee.... Read more
3 Sep. 2009
Donors and others interested in not-for-profit organisations are likely to be provided with financial reports that are more useful and easier to understand, as the result of a project recently approved by the AASB.... Read more
14 Aug. 2009
Financial statements of superannuation plans need to be more transparent, according to an exposure draft released by the Australian Accounting Standards Board (AASB).
ED 179 Superannuation Plans and Approved Deposit Funds proposes that super plans provide more detailed information about the amount and nature of the expenses they incur, such as administration expenses, commissions paid by the plan, trustee fees, and advertising and sponsorship expenses.... Read more
21 Jul. 2009
AASB is seeking comments about its exposure draft ED 184 Financial Instruments: Classification and Measurement, which proposes changes that would both improve information and reduce complexity in accounting for financial instruments.... Read more
30 Jun. 2009
The Australian Accounting Standards Board (AASB) and the Financial Reporting Standards Board (FRSB) of the Institute of Chartered Accountants of New Zealand (NZICA) have released a joint Exposure Draft (ED) on reporting income from non-exchange transactions.... Read more
20 May. 2009
The way superannuation plans and approved deposit funds (ADFs) report financial results may change, as the result of proposals in ED 179 Superannuation Plans and Approved Deposit Funds.... Read more
6 Apr. 2009
Not-for-profit and public benefit entities that operate on either side of the Tasman are a step closer to seeing financial reporting standards in Australia and New Zealand converge.... Read more
2 Apr. 2009
The AASB has made a submission to the IASB, on Exposure Draft ED 10 Consolidated Financial Statements, outlining that the IASB needs to further consider the consolidation issues to ensure that a single consolidations standard is developed with a cohesive and comprehensive concept of control that can be applied consistently to all types of entities.... Read more
16 Feb. 2009
Employer sponsors of defined benefit superannuation plans may need to alter the way they measure the amounts they recognise in financial statements for defined benefit plans, if proposed changes are approved of AASB Proposed Interpretation 10XX Australian Superannuation Contributions Tax for Defined Benefit Plans.... Read more
13 Feb. 2009
The AASB invites comment on Proposed Interpretation Australian Superannuation Contributions Tax for Defined Benefit Plans.... Read more
12 Feb. 2009
The AASB is now seeking applicants for the 2010 Graduate Intern Program. Applications close 24 April 2009... Read more
14 Jan. 2009
AASB moves a step closer to completing GAAP/GFS Harmonisation... Read more
1 Dec. 2008
The Australian Accounting Standards Board has issued AASB 2008-11 Amendments to Australian Accounting Standard – Business Combinations Among Not-for-Profit Entities [AASB 3], which has the effect of requiring assets acquired in a merger of not-for-profit entities to be re-measured, normally at fair value, as at the date of the merger... Read more
31 Oct. 2008
The inconsistent accounting treatments for particular types of intangible assets are addressed in a discussion paper released today by the Office of the Australian Accounting Standards Board (AASB) for comment by 15 May 2009.... Read more
22 Oct. 2008
AASB takes urgent action to assist with reclassifications of financial assets... Read more
3 Oct. 2008
The Australian Accounting Standards Board (AASB) has developed a revolutionary electronic solution, accessible via the AASB website, which enables users to identify and locate the accounting pronouncements (standards, interpretations and conceptual framework) relevant to their particular financial reporting period.
... Read more
23 Jul. 2008
The Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB) are launching new websites, featuring new branding, simplified navigation and an electronic solution enabling users to locate and tailor the standards relevant to their particular financial reporting period.... Read more
6 Jun. 2008
Disclosing entities that are companies (listed or unlisted) will continue to only disclose the remuneration of key management personnel in their director's report, and will not be required to duplicate the information in financial reports. This is a result of the release today of AASB 2008-4 Amendments to Australian Accounting Standard - Key Management Personnel Disclosures by Disclosing Entities, which amends AASB 124 Related Party Disclosures.... Read more
24 Apr. 2008
The Australian Accounting Standards Board (AASB) has issued ITC 16 to invite comments on an International Public Sector Accounting Standards Board (IPSASB) Consultation Paper regarding Service Concession Arrangements. ITC 16 outlines proposals for the accounting by public sector organisations for the infrastructure created by private sector organisations.... Read more
26 Mar. 2008
The AASB has issued a revised version of AASB 3 Business Combinations, which clarifies some of the accounting requirements for mergers and acquisitions.... Read more