Australian Accounting Standards Board
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Australian Accounting Standards Board
The Australian Accounting Standards Board (AASB) is an Australian Government agency that develops and maintains Financial statement, financial reporting standards applicable to entities in the private and public sectors of the Economy of Australia, Australian economy. Also, the AASB contributes to the development of global financial reporting standards and facilitates the participation of the Australian community in global standard setting. The AASB's functions and powers are set out in the ''Australian Securities and Investments Commission Act 2001''. The AASB uses a conceptual framework to develop and evaluate accounting standards. Overview of standards The AASB makes Australian Accounting Standards, including Interpretations, to be applied by: : (a) entities required by the ''Corporations Act 2001'' to prepare financial reports; : (b) governments in preparing financial statements for the whole of government and the General Government Sector (GGS); and : (c) entities in the p ...
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Jim Chalmers
James Edward Chalmers (born 2 March 1978) is an Australian politician and economist who has been serving as the treasurer of Australia in the Albanese government since May 2022. A member of the Labor Party (ALP), he has been the member of parliament for the Queensland division of Rankin since 2013. Chalmers was born in Brisbane and attended the Australian National University, where he completed a doctorate in political science. At the 2013 Australian federal election, Chalmers won the seat of Rankin in Brisbane's south, entering the House of Representatives. He served in the shadow ministries of Bill Shorten and Anthony Albanese, before assuming the role of Treasurer after Labor's victory in the 2022 federal election. Early life and education Chalmers was born in Brisbane, the youngest of three children born to Graham and Carol Chalmers. His father worked as a courier and his mother worked as a nurse. They divorced when he was 14, by which time his older sisters had le ...
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Institute Of Public Accountants
The Institute of Public Accountants (IPA) is one of the three legally recognised professional association, professional bodies for accountants in Australia. The IPA represents more than 25,000 voting members working in industry, commerce, government, academia and professional practice. The organisation rebranded from its previous title, the National Institute of Accountants (NIA), on 2 May 2011. In 2012, the IPA was ranked 19th in the BRW (magazine), BRW Most Innovative Companies list. The IPA launched a digital hub in early 2013. History The Institute of Public Accountants (IPA) is one of Australia's oldest representative professional bodies, formed in 1923. * 1923 - Institute of Factory and Cost Accountants, formed in Melbourne, Victoria. * 1950 - Institute of Taxation and Cost Accountants, name change. * 1957 - National Institute of Accountants, name change. * 1967 - Institute of Commercial Studies, name change. * 1970 - Institute of Affiliate Accountants, name change ...
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Commonwealth Government Agencies Of Australia
A commonwealth is a traditional English term for a political community founded for the common good. The noun "commonwealth", meaning "public welfare, general good or advantage", dates from the 15th century. Originally a phrase (the common-wealth or the common wealth – echoed in the modern synonym "public wealth"), it comes from the old meaning of "wealth", which is "well-being", and was deemed analogous to the Latin ''res publica''. The term literally meant "common well-being". In the 17th century, the definition of "commonwealth" expanded from its original sense of " public welfare" or " commonweal" to mean "a state in which the supreme power is vested in the people; a republic or democratic state". The term evolved to become a title to a number of political entities. Three countries – Australia, the Bahamas, and Dominica – have the official title "Commonwealth", as do four U.S. states and two U.S. territories. Since the early 20th century, the term has been used to name ...
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