Author(s)

Yifan Chai ¹

Affiliation(s)

¹ Tianjin University of Commerce, Tianjin, 300134, China

Corresponding Author

ABSTRACT

This report explores changes in the accounting policy of AusNet and analyses the rationale for changes. Besides, the impact of changes is also analysed and measures are presented. The objective of this report is to analyse changes in the accounting policy of AusNet. This report uses both illustrative and comparative arguments, with reference to the annual report on AusNet and accounting standards. The study found that AusNet changed its accounting policy between the two years in terms of lease, revenue and financial instruments based on International Financial Reporting Standards. The reason for discussing leases and revenue is because both changes focus on contracts and have a significant effect on utilities

KEYWORDS

CITE THIS PAPER

Yifan Chai. A Discussion on International Financial Reporting Standards. Journal of Sociology and Ethnology (2021) 3: 42-44. DOI: http://dx.doi.org/10.23977/jsoce.2021.030309.

REFERENCES

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