IASB since 2001 AASB 101 Presentation of Financial Statements, AASB 102 Inventories, etc., which incorporate IAS 1 Presentation of Financial Statements, IAS 2 Inventories, etc., being the Standards issued by the International Accounting Standards Committee (IASC), which was the predecessor to the IASB For reporting periods beginning on or after 1 January 2005, the Australian Accounting Standards that incorporate IASB Standards supersede their previous Australian counterparts, if any. The other AASB Standards supplementing the Australian Accounting Standards that incorporate IASB Standards comprise: AASB 1023 General Insurance Contracts AASB 1031 Materiality AASB 1038 Life Insurance Contracts AASB 1048 Interpretation and Application of Standards AASB 1053 Application of Tiers of Australian Accounting Standards AASB 1054 Australian Additional Disclosures Current Australian Accounting Standards for which there are no corresponding IASB Standards remain in force beyond 1 January 2005, even though they may be reissued in the future to update them in this new regime. These include: AAS 25 Financial Reporting by Superannuation Plans AASB 1004 Contributions, AASB 1039 Concise Financial Reports, AASB 1049 Whole of Government and General Government Sector Financial Reporting, AASB 1050 Administered Items, AASB 1051 Land Under Roads and AASB 1052 Disaggregated Disclosures See also Accounting Professional & Ethical Standards Board List of accountancy bodies List of Australian Commonwealth Government entities Margin on Services References External links Australian Accounting Standards Board Australian Securities and Investments Commission Financial Reporting Council International Accounting Standards Board International Public Sector Accounting Standards Board Accounting in Australia Accounting organizations Commonwealth Government agencies of Australia 1991 establishments in Australia Accounting standards