Australian Accounting Standards

Australian Accounting Standards are a set of rules and guidelines designed to ensure consistency, transparency, and accuracy in financial reporting by entities in Australia. They help businesses prepare financial statements that accurately reflect their financial position and performance, making it easier for investors, regulators, and other stakeholders to compare and assess companies. These standards are developed by the Australian Accounting Standards Board (AASB) and align with international standards to promote global comparability and trust in financial information.