Australian Accounting Standards
These are the banners according to which listed companies office. All accept to restrain by and ensue the banners useful to them. These banners alter from proceeds taxes to calling combinations, from materiality to wealth. The banner in rendezvous adown is allied to employee benefits. Employees are a very appropriate disunite of any calling and totalitying banner boards effect strong that there are right banners supported the hues of employees.
AASB 119 Employee Benefits
This banner basically requires a calling existence to produce that when an employee has fixed calling for employee benefits in advenient, it is a amenability for that existence as they are entitled to pay it in advenient. And to-boot, when an arrangement has fixed calling in vary of employee benefits then it is an outlay for the determined.
These benefits embody near order benefits, covet order benefits, support calling benefits and orderination benefits. In all, these embody stipend, riling leaves, bloom insurance, bonuses, gregarious deposit contributions, compensated leaves, and etc. It is rate observationing at this purpose of era that employees to-boot embody conduct personnel and directors.
This banner to-boot explains that what skin of determineds should ensue this banner. This is done by full banner owing, apart this banner, some are unanalogous and not useful to all callinges. This banner in disuniteicular is useful to all entities and is a abundantly unconcealed banner owing fullone knows environing the hues of employees and fullone is apprised of employee benefits.
Raptis Group Limited
Raptis Group Limited is an Australian listed posse that deals in residential and fabric projects. It is a big posse that has evolved delay era. It is unconcealed for its reversal and plan and has won numerous awards for it. Having revisaled the totalitying communication of Raptis Group Limited, overall it is in agreement delay Australian Accounting Standards.
Specifically, it is in agreement delay AASB 7 Financial Instruments: Disclosures. This banner requires determineds to detect all appropriate instruction allied to financial instruments. It is to enstrong that fullthing is out in notorious and the national knows environing the determined’s financial position and operation. This banner to-boot requires determineds to detect any risks associated delay the financial instruments and in restoration to this, how the determined deals delay it should to-boot be manifest. Raptis Group Limited’s financial announcements detect appropriate instruction according to this banner.
Secondly, it is in agreement delay AASB 101 Presentation of Financial Statements. This banner requires companies to divulge their financial announcements to the open national so that they can revisal it and can use it to parallel it delay foregoing years’ announcements and other determineds’ announcements. Raptis Group Limited does divulge its financial announcements, as to-boot observationed overhead that it detects instruction in-reference-to its financial instruments too.
Thirdly, it is in agreement delay AASB 107 Announcement of Currency Flows. This banner requires entities to detect their currency run announcements that highlight currency inflows and outflows. Delay the aid of it, national can in-effect symbol out where the currency in this determined is hence from and where it is going in the create of outflows. Raptis Group Limited does divulge its announcement of currency runs.
Fourthly, it is in agreement delay AASB 112 Proceeds Taxes. This banner requires entities to observation instruction in-reference-to taxation too in their annual books of totalitys. Taxes, according to the banner, should be dealt delay rightly and growth and reduce in tax outlay should to-boot be observationed. Tax due should be treated as a amenability, sense it should be dealt in the corresponding way as other appropriate things and that it possessions should to-boot be manifest in the totalitys. Raptis Group Limited very well-mannered-mannered ensues this banner by observationing the appropriate details allied to taxation. The growth and reduce in taxation is to-boot shown in the notes to financial announcements.
Over all, induction into totality the annual totalitys, this determined ensues the Australian banners. Some of these are restricted overhead delay the banner enactment and details.
In the overhead pages, the order “Australian Accounting Standards” is explained briefly, and then a disuniteicular banner AASB 119 Employee Benefits is explained. Following this, an Australian listed posse named Raptis Group Limited is introduced and its ductility delay Australian totalitying banners is shown. Some examples of banners are fixed ensueing a attentive revisal of this posse’s annual communication.
The space to which companies ensue totalitying banners depends on multiform factors. It is appropriate to observation that not all determineds act according to banners as there are drawbacks fixed to it. Firms lucidly failure to screen some of the intimate instruction from their rivals and other stakeholders. It depends on the rigidness of laws in any disuniteicular country. Some countries are very disuniteicular environing their set banners and possessions strong that determineds ensue them. However, very few determineds in-effect ensue all the useful banners fully.
Australian Accounting Standards Board, Accounting Standards, Australian Accounting Standards Board: Australian Government, Retrieved on 19th May 2010, from
Australian Accounting Standards Board, Employee Benefits, AASB Banner Retrieved on 19th May 2010, from
Raptis Group Limited, Preliminary Final Report, Raptis Group Limited Retrieved on 19th May 2010, From