Accounting Standard

An Accounting Standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices.



Australian Accounting Standards are published by the Australian Accounting Standards Board, and are downloadable free of charge from their website.

Standards of Interest include:

1. AAS 5 - Materiality
2. AAS 27 - Financial Reports by Local Governments
3. AASB 116 - Property, Plant & Equipment
4. AASB 136 - Impairment of Assets
5. AASB 1015 - Acquisitions of Assets
6. AASB 1021 - Depreciation
7. AASB 1041 - Revaluation of Non-Current Assets
8. AASB 1045 - Land Under Roads
9. AASB 1051 - Land Under Roads
10. AASB 1055 - Budgetary Reporting

Related Pages

• Asset Accounting
• Asset Valuation
• Auditor's Report
• Australian Standard
• Australian Infrastructure Financial Management Guidelines
• Cost
• Depreciation
• Financial Statement
• Materiality

External Links

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