Outcomes from April 2012 AASB meeting
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).