The Australian Accounting Standards Board (AASB) held its second meeting for 2008 on 5 and 6 March in Melbourne. The meeting included:

• a presentation regarding the measurement of accrued benefits and related practical issues which may arise
• the reissue of AASB 3 Business combinations
• deliberation on staff's analysis on the International Financial Reporting Interpretations Committee's (IFRIC) draft interpretation D24 Customer contributions, and provided staff with directions on the preparation of the AASB's submission to IFRIC
• issued AASB 2008-2 Amendments to Australian accounting standards — puttable financial instruments and obligations arising on liquidation
• discussion around differential reporting developments

For further information, refer to the AASB's Action alert (issue number 112) dated 7 March 2008, which is available on the AASB's website.