International Financial Reporting Standards resources

The IFRS standards are set by the International Accounting Standards Board (ASB) and outline how companies should maintain and report their accounts and other events that have a financial impact. IFRS provides a common accounting language so businesses and their financial statements are consistent and reliable across companies and countries.


These factsheets provide a high-level summary of the IFRS requirements.

The factsheets also include specific requirements under the Australian Accounting Standards (AAS).

The factsheets cover Australian specific AAS developed and issued by the Australian Accounting Standards Board (AASB) to address domestic financial reporting requirements not addressed through the IFRS framework. They reflect requirements in IFRS and AAS as at 31 December 2015.

Grant Thornton Australia developed these factsheets were for CPA Australia.

CPA Australia factsheets about IFRS

IAS 2 Inventories
PDF · 586.2 KB
IAS 12 Income Taxes
PDF · 620.1 KB
IAS 17 Leases
PDF · 613.9 KB
IAS 18 Revenue
PDF · 585.3 KB
IAS 23 Borrowing Costs
PDF · 583.1 KB
IAS 41 Agriculture
PDF · 607.8 KB
IFRS 16 Leases
PDF · 686.8 KB

AASB 141: Agriculture

When should profits earned from growing plants and animals be recognised? This presentation outlines the effect of the current AASB 141 Agriculture and its amendments when producing general purpose financial statements for agriculture activities.