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Outcomes from April 2012 AASB meeting

20 Apr 2012

The Australian Accounting Standards Board (AASB) has released its Action Alert from its April meeting, held on 18-19 April 2012.

At this meeting the Board discussed key not-for-profit (NFP) issues relating to:

  • Control in NFP public and private sectors
  • Income from transactions of NFP entities
  • Service performance reporting
  • NFP entities within the general government sector
  • Government perspective on accounting for the carbon tax.

The AASB also:

  • Formed views to be included in its submission to the IPSASB on its conceptual framework consultation paper
  • Continued monitoring and forming views on the IASB leases, financial instruments, and insurance projects
  • Made decisions relating to the reduced disclosure regime and received a  report on the differential reporting research project
  • Considered and formed views on its tentatvie agenda decision on resource rent taxes
  • Received reports relating to the IFRIC's March 2012 meeting and IPSASB’s March 2012 meeting.
  • Considered EFRAG's discussion paper on business combinations under common control.

Click for AASB Action Alert (link to AASB website).

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