Accounting and audit standards
Accounting and auditing standards
A focused index for AASB accounting standards, ASA auditing standards, ASRE review engagements and financial reporting instruments already in Zoe.
Priority instruments
Common accounting and audit lookups
- CTHIn ForceLegislative Instrument
AASB 101 - Presentation of Financial Statements - July 2015
What it does: AASB 101 sets the rules for presenting general‑purpose financial statements in Australia — which statements to publish, required headings and minimum notes, and rules on classification (for...
- CTHIn ForceLegislative Instrument
AASB 102 - Inventories - July 2015
This Standard prescribes how entities measure, recognise and disclose inventories—generally at the lower of cost and net realisable value—and which costing methods are acceptable. It applies to most...
- CTHIn ForceLegislative Instrument
AASB 128 - Investments in Associates and Joint Ventures - August 2015
This Standard sets the accounting rules for investments in associates and joint ventures, requiring the equity method in most cases, defining how to assess "significant influence", and specifying impairment,...
- CTHIn ForceLegislative Instrument
AASB 15 - Revenue from Contracts with Customers - December 2014
This instrument clarifies how AASB 9, AASB 15 and AASB 1058 apply to statutory receivables and not‑for‑profit revenue/grant arrangements. It requires fair‑value initial measurement for non‑contractual...
- CTHIn ForceLegislative Instrument
ASA 501 - Audit Evidence - Specific Considerations for Inventory and Segment Information - October 2009
This standard sets out what auditors must do to gather audited evidence about inventory and segment disclosures. It requires auditors to attend physical inventory counts (unless impracticable), test records...
- CTHIn ForceLegislative Instrument
Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (July 2020)
ASRE 2410 sets the rules for an auditor’s review of interim or other financial reports when the same auditor audits the annual statements. It provides limited assurance— a lighter, faster, cheaper “health...
Current instruments
AASB, ASA and ASRE material
- CTHIn ForceLegislative Instrument
AASB 1023 - General Insurance Contracts - July 2004
AASB 1023 sets the accounting rules for general (non‑life) insurance: when and how insurers recognise premium revenue, measure outstanding claims (a discounted central...
- CTHIn ForceLegislative Instrument
AASB 1 - First-time Adoption of Australian Accounting Standards - July 2015
AASB 1 sets how entities prepare their first financial statements that unreservedly claim compliance with Australian Accounting Standards: it fixes an opening...
- CTHIn ForceLegislative Instrument
AASB 10 - Consolidated Financial Statements - July 2015
This Standard sets when a parent must present consolidated financial statements by defining control as power to direct relevant activities plus exposure to variable...
- CTHIn ForceLegislative Instrument
AASB 1004 - Contributions - December 2007
This Standard sets how public‑sector and some not‑for‑profit entities record non‑sale transfers of assets, liabilities and services ("contributions"). It changes...
- CTHIn ForceLegislative Instrument
AASB 1039 - Concise Financial Reports - August 2008
This Standard sets the minimum content of a concise financial report that a company, registered scheme or disclosing entity may send to members instead of a full...
- CTHIn ForceLegislative Instrument
AASB 1053 - Application of Tiers of Australian Accounting Standards - June 2010
AASB 1053 creates two GPFS tiers: Tier 1 (full Australian Standards incorporating IFRS) and Tier 2 (same recognition/measurement but substantially reduced disclosures)....
- CTHIn ForceLegislative Instrument
AASB 1054 - Australian Additional Disclosures - May 2011
This Standard requires certain entities that prepare special purpose financial statements (SPFS) to add disclosures about the reporting framework and the extent to...
- CTHIn ForceLegislative Instrument
AASB 1057 - Application of Australian Accounting Standards - July 2015
This instrument re‑sets which entities must apply Australian Accounting Standards, narrows scope to specified for‑profit private sector entities (and entities bound by...
- CTHIn ForceLegislative Instrument
AASB 1058 - Income of Not-for-Profit Entities - December 2016
AASB 1058 makes not‑for‑profit entities recognise income when they receive assets (including cash, goods, leases and some volunteer services) for consideration that is...
- CTHIn ForceLegislative Instrument
AASB 1059 - Service Concession Arrangements: Grantors - July 2017
AASB 1059 requires Australian public sector grantors to recognise service concession infrastructure they control (even if built/operated by a private operator) and to...
- CTHIn ForceLegislative Instrument
AASB 107 - Statement of Cash Flows - August 2015
This Standard requires entities to include a classified statement of cash flows (operating, investing, financing) each reporting period, defines cash and cash...
- CTHIn ForceLegislative Instrument
AASB 108 - Accounting Policies, Changes in Accounting Estimates and Errors - August 2015
AASB 108 sets how entities using Australian Accounting Standards choose and change accounting policies, recognise and disclose changes in accounting estimates, and...
- CTHIn ForceLegislative Instrument
AASB 11 - Joint Arrangements - July 2015
AASB 11 "Joint Arrangements" is an AASB accounting standard, made under s334 of the Corporations Act, that sets the required accounting framework for joint...
- CTHIn ForceLegislative Instrument
AASB 110 - Events after the Reporting Period - August 2015
AASB 110 sets rules for events that occur between the end of a reporting period and the date the financial statements are authorised for issue. It tells entities when...
- CTHIn ForceLegislative Instrument
AASB 112 - Income Taxes - August 2015
Mechanically, AASB 112 tells entities how to recognise, measure and present the tax effects of transactions: record current tax payable/receivable, recognise deferred...
- CTHIn ForceLegislative Instrument
AASB 116 - Property, Plant and Equipment - August 2015
AASB 116 sets the accounting rules for tangible long‑lived assets (property, plant and equipment): when to recognise them, how to measure them initially and...
- CTHIn ForceLegislative Instrument
AASB 119 - Employee Benefits - August 2015
AASB 119 prescribes how employers must recognise, measure and disclose employee benefit obligations in Australian financial statements. It covers short‑term,...
- CTHIn ForceLegislative Instrument
AASB 12 - Disclosure of Interests in Other Entities - August 2015
This Standard requires entities with interests in other entities (subsidiaries, joint arrangements, associates, unconsolidated structured entities) to disclose clear...
- CTHIn ForceLegislative Instrument
AASB 120 - Accounting for Government Grants and Disclosure of Government Assistance - August 2015
This Standard sets the accounting and disclosure rules for government grants and other forms of government assistance in Australian general‑purpose financial...
- CTHIn ForceLegislative Instrument
AASB 121 - The Effects of Changes in Foreign Exchange Rates - August 2015
This Standard prescribes how to account for and translate foreign‑currency transactions and foreign operations: determining an entity’s functional currency, translating...
- CTHIn ForceLegislative Instrument
AASB 123 - Borrowing Costs - August 2015
AASB 123 is the Australian accounting standard that sets the rules for how entities must treat borrowing costs in their financial statements. It was made under section...
- CTHIn ForceLegislative Instrument
AASB 124 - Related Party Disclosures - July 2015
This Standard requires entities to disclose related party relationships, transactions and outstanding balances in their general purpose financial statements, extends...
- CTHIn ForceLegislative Instrument
AASB 127 - Separate Financial Statements - August 2015
This Standard prescribes how an entity must account for investments in subsidiaries, joint ventures and associates in separate financial statements: investments are...
- CTHIn ForceLegislative Instrument
AASB 129 - Financial Reporting in Hyperinflationary Economies - August 2015
What it does: This Standard requires entities whose functional currency is the currency of a hyperinflationary economy to restate their financial statements into the...
- CTHIn ForceLegislative Instrument
AASB 13 - Fair Value Measurement - August 2015
AASB 13 (Fair Value Measurement) is an Australian Accounting Standard made by the AASB under section 334 of the Corporations Act 2001 that sets the rules for measuring...
- CTHIn ForceLegislative Instrument
AASB 132 - Financial Instruments: Presentation - August 2015
AASB 132 sets the rules issuers must use to classify and present financial instruments as liabilities, assets or equity and when recognised assets and liabilities may...
- CTHIn ForceLegislative Instrument
AASB 133 - Earnings per Share - August 2015
This Australian Accounting Standard sets rules for calculating and reporting Earnings Per Share (EPS), ensuring companies show how much profit each ordinary share...
- CTHIn ForceLegislative Instrument
AASB 134 - Interim Financial Reporting - August 2015
This Standard prescribes minimum content, structure and measurement principles for interim financial reports — allowing condensed statements and required explanatory...
- CTHIn ForceLegislative Instrument
AASB 136 - Impairment of Assets - August 2015
This amendment removes the specific instruction that not-for-profit entities measure the value in use of primarily non‑cash‑generating specialised assets using...
- CTHIn ForceLegislative Instrument
AASB 137 - Provisions, Contingent Liabilities and Contingent Assets - August 2015
This compiled AASB Standard publishes AASB 137 and states that it contains IFRS Foundation copyright material, setting who may reproduce the document and how. It...