What's new

Article Abstract:

The Australian Accounting Standards Board (AASB) issued exposure draft (ED) 116, 'Request for Comment on International Accounting Standards (IAS) 2 and International Public Sector Accounting Standard (IPAS) 12 Inventories' and ED 115, 'Request for Comment on IAS 19 Employee Benefits'. The Board also issued an Invitation to Comment (ITC) to seek comments on whether the existing requirements to report in Australian currency continue to be relevant or whether there is a case for permitting Australian entities to report in other currencies.

Accounting Standards Board

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What's new

Article Abstract:

The Australian Accounting Standards Board (AASB) has released two exposure drafts, ED 21, which deals with 'Request for Comment on IAS 31 Financial reporting Interest in Joint Ventures' and ED 31, which is related to 'Request for Comment on IASB ED 5 Insurance Contracts'. The Urgent Issues Group (UIG) has provided a clarification regarding the disclosure requirements for the employers who sponsor defined benefit superannuation plans, in relation to Abstract 54.

Other Financial Vehicles, Security & commodity services, not elsewhere classified, Financial Record Keeping Services, Financial records management

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What's new

Article Abstract:

Details about the Corporations Legislation Amendment Bill 2002 that was enforced from 1st July 2003 are presented. Under this bill, companies would no longer be required to lodge annual returns with the Australian Securities and Investments Commission (ASIC).

Corporation law, Tax returns, Australia. Securities and Investments Commission

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