AASB (Australian Accounting Standards)
Practical, standard-by-standard guidance on applying the Australian Accounting Standards Board (AASB) framework — covering recognition, measurement, and disclosure the way Australian accountants and not-for-profits actually apply it.
16 Guides Published
chapters
AASB 1058 Income of Not-for-Profit Entities: The Recognition Framework
How AASB 1058 works alongside AASB 15 to determine whether a transfer of income to an NFP is recognised immediately or deferred as a performance obligation.
AASB 1058 Worked Examples: Government Grants and Membership Fees
Full worked examples applying the AASB 1058/15 framework to an operating grant, a research grant, and annual membership fees.
AASB 1058 Capital Grants for Constructing Recognisable Assets
The special deferral treatment available when a grant is conditional on constructing or acquiring an asset the NFP will control.
AASB 1058 Peppercorn Leases and Volunteer Services
Recognising right-of-use assets for significantly below-market leases, and when volunteer services must be recognised as income and expense.
AASB 1060 Simplified Disclosures: The Two-Tier Reporting Framework
The Tier 1 vs Tier 2 disclosure framework, who qualifies for Tier 2, and what Tier 2 removes relative to full disclosure requirements.
AASB 1060 Worked Examples: Tier 1 vs. Tier 2 Disclosure Compared
Three worked examples comparing Tier 1 and Tier 2 note content side by side for borrowings, PP&E, and related party transactions.
AASB 1060 Transition: Moving From Special Purpose to Tier 2 General Purpose
The practical transition path for entities forced out of special purpose financial statements into Tier 2 general purpose reporting.
AASB 1060 Common Disclosure Omissions and Review Pitfalls
The fixed set of notes Tier 2 preparers consistently miss, and a review sequence built around how the omissions actually happen.
AASB 124 Related Party Disclosures: Identifying Related Parties and KMP
The control, influence, and key management personnel tests that determine who counts as a related party, and why Australia extends the regime further than IAS 24.
AASB 124 Worked Examples: KMP Compensation and Related Party Transactions
Three worked examples covering aggregated KMP compensation disclosure, a below-market related party lease, and a loan to a KMP.
AASB 124 for Not-for-Profit and Public Sector Entities
Why Australia extended AASB 124 to the public sector in 2016, how KMP is identified in government and NFP entities, and the government-related entity disclosure relief.
AASB 124 Common Pitfalls: Missed Related Parties and Incomplete Disclosures
The recurring failure patterns behind incomplete AASB 124 notes, and a pre-finalisation checklist to catch them before audit.
AASB 15 Revenue from Contracts with Customers: The Five-Step Model
The five-step model AASB 15 uses to determine when and how much revenue to recognise from contracts with customers, and why AASB 1058 exists alongside it.
AASB 15 Worked Examples: Variable Consideration and Contract Modifications
Three worked examples covering a volume rebate, a contract modification at standalone selling price, and a modification requiring a cumulative catch-up adjustment.
AASB 15 vs. AASB 1058: Distinguishing Contracts from Income
The three-question test that decides whether a grant or funding agreement is a contract with a customer under AASB 15, or income under AASB 1058.
AASB 15 Common Pitfalls: Performance Obligations and Timing Errors
Three recurring AASB 15 errors — invoice-date recognition, missed material rights, and misapplied over-time recognition — and how to catch them.