Media releases

30 Jun. 2009

AASB and FRSB issue ED on Reporting Income from Non-exchange Transactions

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

AASB proposes sweeping changes to Super and ADF Financial Statements

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

New Zealand and Australia aligning approach to setting financial reporting standards for public sector and not-for-profit organisations

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

Consolidated Financial Statements proposals would not improve financial reporting, says AASB

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

AASB releases Proposed Interpretation on accounting for superannuation contributions tax for defined benefit plans

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

AASB invites comment on Proposed Interpretation

The AASB invites comment on Proposed Interpretation Australian Superannuation Contributions Tax for Defined Benefit Plans.... Read more

12 Feb. 2009

Apply for the 2010 AASB Graduate Intern Program

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

AASB moves a step closer to completing GAAP/GFS Harmonisation... Read more

1 Dec. 2008

Not-for-profit entities required to re-measure assets acquired in a merger

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

Discussion Paper advocates consistent fair value measurement of intangible assets

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

Media release: AASB takes urgent action to assist with reclassifications of financial assets

AASB takes urgent action to assist with reclassifications of financial assets... Read more

3 Oct. 2008

Media release: AASB revolutionises the online search for pronouncements

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

Media release: AASB, AUASB introduce new websites with enhanced functionality

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

Media release: AASB 2008-4 provides relief from duplication in financial reports

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

Media release: AASB invites comment on accounting for public/private infrastructure arrangements

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

Media release: AASB issues standard to improve accounting for mergers and acquisitions

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