DTT Australian discussion paper on first-time adoption

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14 Jul 2003

The Australian Accounting Standards Board has embarked on a program to expose and then adopt, over the next 12 months, over 30 Australian Accounting Standards that are intended to be converged with the equivalent IFRS.

Deloitte Touche Tohmatsu (Australia) has prepared a (PDF 900k) that explains how the principles of IFRS 1, First-time Adoption of IFRS, would apply in making the transition from existing Australian GAAP to the converged Australian GAAP.

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