Updated AASB staff carbon accounting paper published

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

10 Apr 2013

The Australian Accounting Standards Board (AASB) has published a updated staff paper on possible accounting treatments for the Australian carbon pricing mechanism under current Australian Accounting Standards.

The paper has been updated in response to legislative changes since its first publication in July 2012, and other developments, including the expected linkage with the European Union Emissions Trading Scheme, and the extension of the Kyoto protocol.

Consistent with the earlier paper, the updated paper deals only with the key financial reporting issues that may arise for emitter entities during the fixed price phase of the carbon pricing mechanism (sometimes referred to as the 'carbon tax').  The financial reporting implications of the flexible price phase under the proposed cap and trade scheme will be considered by the AASB when the IASB progresses its project on accounting for emissions trading schemes.

The updated staff paper is available on the AASB website.

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.