Home > Reports > FRC & AASB Annual Report 1999-2000 - AASB's Work program 1 July 2000 to 30 July 2001

Appendix E

AASB's Work program 1 July 2000 to 30 June 2001

Highest priorities

• The issue of new and revised standards under the international harmonisation program on:
  • Discontinuing operations
  • Earnings per share
  • Foreign currency translation
  • Interim reporting
  • Segment reporting.
• The publication of an issues paper dealing with the recognition and measurement of identifiable intangible assets, including research and development. The objective of this paper is to obtain input from constituents on the key issues that drive divergence amongst standard-setters in dealing with this topic.
• The preparation of a discussion paper concerning the reconciliation of Government general purpose financial reporting with Government finance statistics reporting and issues relating to harmonisation.
• The finalisation of a new standard on Public Infrastructure Disclosures. This standard follows the issue in 1999 of Exposure Draft ED 100, the comment period on which ended 31 May 2000.

High priorities

• The issue of new and revised standards under the international harmonisation program on:
  • Employee benefits
  • Provisions and contingencies.
• The issue of an invitation to comment concerning the recognition and measurement of financial instruments which is being prepared by the Joint Working Group, representing the G4+1 standard-setters and standard-setters from France, Germany, Japan and the Nordic Federation.
• The issue of an invitation to comment on accounting for share-based payment (including employee options) prepared by the G4+1.
• The issue of discussion papers on:
  • the use of deprival value/fair value in financial reports; and
  • the use of discounting in financial reports.

Other priorities

• The issue of new and revised standards under international harmonisation program concerning:
  • Consolidations;
  • Director and executive disclosures;
  • Impairment of assets (Exposure Draft ED 99 comment period ended 30 June 2000);
  • Investment properties;
  • Post-employment benefits; and
  • Related party disclosures.
• A review of Accounting Standard AASB 1015 `Acquisitions of Assets' in view of the Senate's disallowance of paragraphs 6.3 and 6.4.
• Finalising a report on the issues relating to the valuation and accounting for land under roads.
• A review of the current relevance of Australian Accounting Standard AAS 27 `Financial Reporting by Local Governments'.
• The preparation of a discussion paper on issues relating to financial reporting by not-for-profit entities.
• The preparation of an issues paper concerning prospective information.
• A review of Australian Accounting Standard AAS 25 `Financial Reporting by Superannuation Plans' in the light of changes to superannuation arrangements in recent years.