Summary 
Developments, Key Differences & History 
Compared to IFRS 
Interpretations 
Rejection Notices 
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AASB website 

• July 2004: AASB 102 was issued
 
 

• February 2007: AASB 2007-3 Amendments to Australian Accounting Standards arising from AASB 8 makes consequential amendments to AASB 102 as a result of the issuance of AASB 8. This standard is applicable from 1 January 2009, with early adoption permitted from 1 January 2005, provided AASB 8 is also adopted for the same period.
 
 

• April 2007: AASB 2007-4 Amendments to Australian Accounting Standards arising from ED 151 amends paragraph 2 and is applicable from 1 July 2007, with early adoption permitted from 1 January 2005.
 
 

• April 2007: AASB 2007-5 Amendments to Australian Accounting Standards amends paragraph Aus9.1, Aus34.1 and Aus36.1 and adds paragraph Aus9.2, Aus42.1 and Aus42.2. It is applicable from 1 July 2007, with early adoption permitted from 1 January 2005.
 
 

• December 2007: AASB 2007-10 Further Amendments to Australian Accounting Standards arising from AASB 101 makes further consequential amendments to change the term ‘general purpose financial report’ to ‘general purpose financial statements’ and the term ‘financial report’ to ‘financial statements’ to better align with IFRS terminology. It is applicable from 1 January 2009, with early application permitted, provided the revised AASB 101 is also early adopted.
 
 

• July 2008: AASB 2008-5 Amendments to Australian Accounting Standards arising from Annual Improvements Project amends paragraph 20 by replacing the term ‘estimated point of sale costs’ with ‘costs to sell’ (for consistency with the amendment to AASB 141 Agriculture) and is applicable from 1 January 2009, with early application permitted.