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Australian Accounting Standards Board Developing, issuing and maintaining Australian Accounting Standards and related pronouncements

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Do current financial reporting requirements for parent/subsidiary structures meet user needs in a cost-effective way? Research Report 13 addresses this question, which is an important aspect of the Australian financial reporting framework. Read More

The AASB issued AASB 2019-2 Amendments to Australian Accounting Standards – Implementation of AASB 1059  to amend the modified retrospective method set out in paragraph C4 of AASB 1059, and to provide a practical expedient to grantors of service concession to not apply AASB 16 Leases to assets that would be recognised as service concession assets under AASB 1059. Read More

AASB staff have prepared a summary of key facts about the proposed simplified disclosure standard (ED 295). This explains the background for the proposals, which disclosures have been removed from the RDR disclosures, and which disclosures would be added if the proposals are approved.   

AASB Staff FAQs for Not-for-Profit Entities – Research Grants: updated to clarify the Chart 3 – Research Findings analysis of how paragraph 35(a) of AASB 15 applies, and by adding new examples to assess whether a transfer of goods or services occurs under research grants

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