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More on Australia moving to IAS in 2005

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29 Nov 2002

We have posted a new (PDF 154k) that explains the planned adoption of International Accounting Standards as Australian GAAP for reporting periods beginning on or after 1 January 2005. Because of the need to present prior period comparatives, the transitional calculations will commence for reporting periods beginning on or after 1 January 2004. A few Australian accounting standards do not have an international counterpart, including concise financial reports, general and life insurance, and extractive industries.

Those are expected to be retained until IASB standards are developed.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.