This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Differences between Australian GAAP and IFRS and the future direction of accounting standards

Published on: 29 Apr 2003

There are a number of differences, both big and small, between IFRSs (International Financial Reporting Standards, previously known as International Accounting Standards (IAS)) and the Australian Accounting Standards on issue as at 31 March 2003.

This publication from Deloitte (Australia) outlines the major differences that existed between Australian GAAP and IFRS as at 31 March 2003 and the effect of proposed changes at that time. In this respect, both sets of standards are currently in a state of flux, particularly those issued by the IASB, who are currently undertaking a number of major projects.

This publication relates to previous Australian GAAP, prior to Australia's adoption of standards equivalent to IFRSs from 2005.  See our Australia country page for more information about the current financial reporting framework in Australia.


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.