AAS 27

AAS 27 is the Accounting Standard pertaining to the "Financial Reports by Local Governments".

This Standard may be cited as Australian Accounting Standard AAS 27 "Financial Reporting by Local Governments".

The purpose of this Standard is to set out standards for the form and content of general purpose financial reports of local governments.

General purpose financial reports shall provide information useful to users for making and evaluating decisions about the allocation of scarce resources, and be presented in a manner which assists in discharging the accountability of the reporting entity's management or governing body.

To provide information useful for those purposes, general purpose financial reports of local governments need to disclose information about the performance, financial position, financing and investing, and compliance of those local governments.

The aim of this Standard is to ensure that general purpose financial reports of local governments contain information that is useful to users.

Related Pages

External Links & References

  1. AAS27_6-96.pdf
  2. Google Search

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