Outcomes from April 2012 AASB meeting

  • AASB (Australian Accounting Standards Board) (lt blue) Image

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).

Related Topics

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.