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Australian Accounting Standards Board (AASB) deals with development of accounting standards having its own research and administrative staff. The Financial Reporting Council (FRC) is the highest body to oversight the process carried out by AASB comprising members from professional bodies, business community and government agencies. Discussion on Australian GAAP

Accounting Standards in Australia

	Framework for the Preparation and Presentation of Financial Statements
AASB1	First-time Adoption of Australian Equivalents to International Financial Reporting Standards
AASB2	Share-based Payment
AASB3	Business Combinations
AASB4	Insurance Contracts
AASB5	Non-current Assets Held for Sale and Discontinued Operations
AASB6	Exploration for and Evaluation of Mineral Resources
AASB7	Financial Instruments: Disclosures
AASB8	Operating Segments
AASB101	Presentation of Financial Statements
AASB102	Inventories
AASB107	Cash Flow Statements
AASB108	Accounting Policies, Changes in Accounting Estimates and Errors
AASB110	Events after the Balance Sheet Date
AASB111	Construction Contracts
AASB112	Income Taxes
AASB114	Segment Reporting
AASB116	Property, Plant and Equipment
AASB117	Leases
AASB118	Revenue
AASB119	Employee Benefits
AASB120	Accounting for Government Grants and Disclosure of Government Assistance
AASB121	The Effects of Changes in Foreign Exchange Rates
AASB123	Borrowing Costs
AASB124	Related Party Disclosures
AASB127	Consolidated and Separate Financial Statements
AASB128	Investments in Associates
AASB129	Financial Reporting in Hyperinflationary Economies
AASB131	Interests in Joint Ventures
AASB132	Financial Instruments: Presentation
AASB133	Earnings per Share
AASB134	Interim Financial Reporting
AASB136	Impairment of Assets
AASB137	Provisions, Contingent Liabilities and Contingent Assets
AASB138	Intangible Assets
AASB139	Financial Instruments: Recognition and Measurement
AASB140	Investment Property
AASB141	Agriculture
AASB1004	Contributions
AASB1023	General Insurance Contracts
AASB1031	Materiality
AASB1038	Life Insurance Contracts
AASB1039	Concise Financial Reports
AASB1048	Interpretation and Application of Standards
AASB1049	Whole of Government and General Government Sector Financial Reporting
AASB1050	Administered Items
AASB1051	Land Under Roads
AASB1052	Disaggregated Disclosures
AASB2007-3	Amendments to Australian Accounting Standards arising from AASB 8 [AASB 5, AASB 6, AASB 102, AASB 107, AASB 119, AASB 127, AASB 134, AASB 136, AASB 1023 & AASB 1038]
AASB2007-6	Amendments to Australian Accounting Standards arising from AASB 123 [AASB 1, AASB 101, AASB 107, AASB 111, AASB 116 & AASB 138 and Interpretations 1 & 12]
AASB2007-8	Amendments to Australian Accounting Standards arising from AASB 101
AASB2007-9	Amendments to Australian Accounting Standards arising from the Review of AASs 27, 29 and 31 [AASB 3, AASB 5, AASB 8, AASB 101, AASB 114, AASB 116, AASB 127 & AASB 137]
AASB2008-1	Amendments to Australian Accounting Standard - Share-based Payments: Vesting Conditions and Cancellations [AASB 2]
AASB2008-2	Amendments to Australian Accounting Standards – Puttable Financial Instruments and Obligations arising on Liquidation [AASB 7, AASB 101, AASB 132, AASB 139 & Interpretation 2]
AASB2008-3	Amendments to Australian Accounting Standards arising from AASB 3 and AASB 127 [AASBs 1, 2, 4, 5, 7, 101, 107, 112, 114, 116, 121, 128, 131, 132, 133, 134, 136, 137, 138 & 139 and Interpretations 9 & 107]
AASB2008-4	Amendments to Australian Accounting Standard – Key Management Personnel Disclosures by Disclosing Entities [AASB 124]
AASB2008-5	Amendments to Australian Accounting Standards arising from the Annual Improvements Project[AASB 5, 7, 101, 102, 107, 108, 110, 116, 118, 119, 120, 123, 127, 128, 129, 131, 132, 134, 136, 138, 139, 140, 141, 1023 & 1038]
AASB2008-6	Further Amendments to Australian Accounting Standards arising from the Annual Improvements Project [AASB 1 & AASB 5]
AASB2008-7	Amendments to Australian Accounting Standards – Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate [AASB 1, AASB 118, AASB 121, AASB 127 & AASB 136]
AASB25	Financial Reporting by Superannuation Plans