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Accounting for self-generating and regenerating assets: meeting the objectives

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Williams, BR and Wilmshurst, TD (2008) Accounting for self-generating and regenerating assets: meeting the objectives. School of Accounting & Corporate Governance Working Paper Series, 2008 (3). pp. 1-16. (Unpublished)

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Abstract

The introduction of AASB 1037 and the subsequent adoption of the international standard AASB 141 sought to achieve consistency and comparability in the financial practices adopted. This exploratory paper discusses whether this was achieved and at the same time highlights issues faced by firms involved in the application of a new accounting standard. Consistency in measurement methods adopted by firms was not achieved by prescribing accounting methods under AASB 1037. However, consistency was found within firms in the application of measurement methods over time. Comparability within firms across time has been achieved, though not necessarily between firms in the SGARA Industry.

Item Type: Article
Keywords: AASB 1037, Self-generating and regenerating assets, Consistency, Comparability, Accounting standards
Journal or Publication Title: School of Accounting & Corporate Governance Working Paper Series
Page Range: pp. 1-16
Additional Information: The Working Paper Series of the School of Accounting and Corporate Governance, University of Tasmania, is available only through the UTAS ePrints repository.
Date Deposited: 21 Jul 2008 03:16
Last Modified: 18 Nov 2014 03:45
URI: http://eprints.utas.edu.au/id/eprint/7035
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