Our Recommendations :-
Follow CA Final FB Page

What is the difference between AAS and AASB Accounting Standards?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ROHIT SINGH asked over 2 years ago

    0       0 Answer Now Comment Report
5 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

The original series of Australian Accounting Standards (AASs) was issued by the Australian Accounting Research Foundation (AARF) on behalf of the professional accounting bodies prior to 2000. Most AASs were superseded by AASB Accounting Standards for reporting periods beginning on or after 1 January 2005. As at 1 July 2009, only AAS 25 Financial Reporting by Superannuation Plans was still operative. ED 223 (issued in December 2011) proposes requirements that would replace AAS 25 with a new AASB standard. ASRB The Accounting Standards Review Board (ASRB) was established in 1984 to review AAS Standards and, if appropriate, to then issue them as ASRB Standards to give legislative power to them under the Corporations Law. Standards issued by the ASRB up to 1991 were labelled ASRB Approved Accounting Standards.

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Picsjoin 2017224123730582 Archana answered over 2 years ago

Hie Rohit, AAS Standards ------------- The original series of Australian Accounting Standards (AASs) was issued by the Australian Accounting Research Foundation (AARF) on behalf of the professional accounting bodies prior to 2000. Most AASs were superseded by AASB Accounting Standards for reporting periods beginning on or after 1 January 2005. As at 1 July 2009, only AAS 25 Financial Reporting by Superannuation Plans was still operative. ED 223 (issued in December 2011) proposes requirements that would replace AAS 25 with a new AASB standard. ASRB ---- The Accounting Standards Review Board (ASRB) was established in 1984 to review AAS Standards and, if appropriate, to then issue them as ASRB Standards to give legislative power to them under the Corporations Law. Standards issued by the ASRB up to 1991 were labelled ASRB Approved Accounting Standards. In 1991, the ASRB was renamed the Australian Accounting Standards Board (AASB) and all ASRB Standards were re-labelled as AASB Accounting Standards through AASB 1025 Application of the Reporting Entity Concept and Other Amendments. AASB Accounting Standards ------------------------- Since 1991, all standards issued by the AASB have been labelled AASB Accounting Standards.

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Chirag answered over 2 years ago

Dear, AAS Standards The original series of Australian Accounting Standards (AASs) was issued by the Australian Accounting Research Foundation (AARF) on behalf of the professional accounting bodies prior to 2000. Most AASs were superseded by AASB Accounting Standards for reporting periods beginning on or after 1 January 2005. As at 1 July 2009, only AAS 25 Financial Reporting by Superannuation Plans was still operative. ED 223 (issued in December 2011) proposes requirements that would replace AAS 25 with a new AASB standard. ASRB The Accounting Standards Review Board (ASRB) was established in 1984 to review AAS Standards and, if appropriate, to then issue them as ASRB Standards to give legislative power to them under the Corporations Law. Standards issued by the ASRB up to 1991 were labelled ASRB Approved Accounting Standards. In 1991, the ASRB was renamed the Australian Accounting Standards Board (AASB) and all ASRB Standards were re-labelled as AASB Accounting Standards through AASB 1025 Application of the Reporting Entity Concept and Other Amendments. AASB Accounting Standards Since 1991, all standards issued by the AASB have been labelled AASB Accounting Standards.

    0       0 Comment Report
Open uri20170510 32134 1c996lj?1494421732 Anil answered over 2 years ago

**AAS Standards** The original series of Australian Accounting Standards (AASs) was issued by the Australian Accounting Research Foundation (AARF) on behalf of the professional accounting bodies prior to 2000. Most AASs were superseded by AASB Accounting Standards for reporting periods beginning on or after 1 January 2005. As at 1 July 2009, only AAS 25 Financial Reporting by Superannuation Plans was still operative. ED 223 (issued in December 2011) proposes requirements that would replace AAS 25 with a new AASB standard. **ASRB** The Accounting Standards Review Board (ASRB) was established in 1984 to review AAS Standards and, if appropriate, to then issue them as ASRB Standards to give legislative power to them under the Corporations Law. Standards issued by the ASRB up to 1991 were labelled ASRB Approved Accounting Standards. In 1991, the ASRB was renamed the Australian Accounting Standards Board (AASB) and all ASRB Standards were re-labelled as AASB Accounting Standards through AASB 1025 Application of the Reporting Entity Concept and Other Amendments. **AASB Accounting Standards** Since 1991, all standards issued by the AASB have been labelled AASB Accounting Standards.

    0       0 Comment Report
Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered over 2 years ago

Dear Friend, as far as your query is concerned that What is the difference between AAS and AASB Accounting Standards? Let me informed that The original series of Australian Accounting Standards (AASs) was issued by the Australian Accounting Research Foundation (AARF) on behalf of the professional accounting bodies prior to 2000. Most AASs were superseded by AASB Accounting Standards for reporting periods beginning on or after 1 January 2005. As at 1 July 2009, only AAS 25 Financial Reporting by Superannuation Plans was still operative. ED 223 (issued in December 2011) proposes requirements that would replace AAS 25 with a new AASB standard. ASRB The Accounting Standards Review Board (ASRB) was established in 1984 to review AAS Standards and, if appropriate, to then issue them as ASRB Standards to give legislative power to them under the Corporations Law. Standards issued by the ASRB up to 1991 were labelled ASRB Approved Accounting Standards. In 1991, the ASRB was renamed the Australian Accounting Standards Board (AASB) and all ASRB Standards were re-labelled as AASB Accounting Standards through AASB 1025 Application of the Reporting Entity Concept and Other Amendments. AASB Accounting Standards Since 1991, all standards issued by the AASB have been labelled AASB Accounting Standards. Hope answer was helpful to you Regards, Arjun Pratap Singh

    0       0 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.