tailieunhanh - Lecture Accounting for business: A guide for non-accountants (2/e) – Chapter 5: Basic accounting standards

The learning objectives for this chapter include: Explain the role of accounting standards, define AARF and AASB, outline the process for development of Australian accounting standards, discuss the development of the conceptual framework and the Statements of Accounting Concepts,. | Chapter 5 Basic accounting standards 5- Objectives Explain the role of accounting standards. Define AARF and AASB. Outline the process for development of Australian accounting standards. Discuss the development of the conceptual framework and the Statements of Accounting Concepts. 5- Objectives (continued) Describe the impact on the presentation of financial reports of the Corporations Act’s 5th Schedule, Approved Accounting Standards, Australian Accounting Standards, and the Australian Stock Exchange. Outline the statutory compliance requirements for an ABN, the GST, a BAS and the PAYG income tax system. 5- Accounting standards Attempt to improve and bring about consistency and quality of financial reporting. Deal with accounting policies. 5- Accounting standards (continued) There are two major associations that develop rules and practices for the accounting profession: The Institute of Chartered Accountants The Australian Society of Certified Practicing Accountants. The Australian Accounting Research Foundation (AARF) was established from these two bodies. 5- Role of Australian Accounting Standards Board (AASB) to produce high quality standards to improve the quality of Australian financial reporting. 5- Australian Accounting Standards These standards are legally enforceable for all members of accounting profession and penalties apply to those who do not comply. However, they are not enforceable to non-members. 5- Australian Accounting Standards (continued) AASB also undertakes to: review existing standards develop additional standards review submissions from the public in relation to accounting standards. 5- Development of Australian Accounting Standards (AAS) The AASB prepares a discussion paper on a proposed standard. The discussion paper is distributed for comments. A review of the comments is made and an exposure draft is prepared. 5- Development of AAS (continued) The exposure draft is distributed to the Australian | Chapter 5 Basic accounting standards 5- Objectives Explain the role of accounting standards. Define AARF and AASB. Outline the process for development of Australian accounting standards. Discuss the development of the conceptual framework and the Statements of Accounting Concepts. 5- Objectives (continued) Describe the impact on the presentation of financial reports of the Corporations Act’s 5th Schedule, Approved Accounting Standards, Australian Accounting Standards, and the Australian Stock Exchange. Outline the statutory compliance requirements for an ABN, the GST, a BAS and the PAYG income tax system. 5- Accounting standards Attempt to improve and bring about consistency and quality of financial reporting. Deal with accounting policies. 5- Accounting standards (continued) There are two major associations that develop rules and practices for the accounting profession: The Institute of Chartered Accountants The Australian Society of Certified Practicing .

• Kế toán - Kiểm toán
• Accounting for business
• Lecture Accounting for business
• Accounting standards
• Australian accounting standards
• Conceptual framework
• Financial reports
• Payroll accounting
• Pay period
• Payroll taxes
• Financial Statements
• Making business decision
• Business decision tool
• Lecture Accounting