Accounting principles

Rise and rise of non-GAAP disclosure

This monograph provides a detailed summary of how Australian firms report their financial performance. While applicable standards within Generally Accepted Accounting principles (GAAP) have increasingly restricted the ability to exclude certain components from the calculation of periodic income, we observe a consistent growth in the...

The impact of IFRS adoption in Australia: evidence from academic research

It has been more than ten years since Australia adopted IFRS. It is time to ask some big questions: Has IFRS improved the quality of financial reporting in Australia? Has it improved comparability of Australian entities’ financial reporting with their global peers? As part of...

Value accounts investment funds 2016: annual financial reporting 2016

This publication presents illustrative general purpose annual financial statements (GPFS) for a fictitious managed investment scheme, VALUE ACCOUNTS Unit Trust, and a fictitious pooled superannuation trust, VALUE ACCOUNTS Pooled Superannuation Trust. The financial statements comply with the Corporations Act 2001 and other authoritative pronouncements on...

Enhancing competition in telecommunications: accounting separation of Telstra's operations

Accounting separation provides separate accounts for wholesale and retail operations. The accounting separation regime has evolved into its current form over a number of years. Its legislative basis is section 151BU of the Trade Practices Act 1974 which enables the ACCC to make record keeping...