WBK » Topics » Differences between Australian and US Generally Accepted Accounting Principles (GAAP) results

This excerpt taken from the WBK 20-F filed Nov 8, 2007.

Differences between Australian and US Generally Accepted Accounting Principles (GAAP) results

 

The consolidated financial statements for each of the years ended 30 September 2005, 2004 and 2003 were prepared in accordance with AGAAP. These accounting principles and policies differ in some material respects from US GAAP. A reconciliation of net income, total assets, total liabilities and equity under US GAAP is included in Note 45 to the 2005 financial statements.

 

Consolidated net income under US GAAP for the year ended 30 September 2005 was A$2,813 million (2004 A$2,772 million; 2003 A$1,984). The significant adjustments between AGAAP and US GAAP results primarily relate to premises and sites, superannuation expenses, a one-off change in estimate to the allowance for impairment charges, hedging, debt instruments and effective yield adjustments.

 

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This excerpt taken from the WBK 20-F filed Nov 8, 2006.

Differences between Australian and US Generally Accepted Accounting Principles (GAAP) results

The consolidated financial statements for each of the years ended 30 September 2005, 2004, 2003 and 2002 were prepared in accordance with AGAAP. These accounting principles and policies differ in some material respects from US GAAP. A reconciliation of net income, total assets, total liabilities and equity under US GAAP is included in Note 45 to the 2005 financial statements.

Consolidated net income under US GAAP for the year ended 30 September 2005 was A$2,813 million (2004 A$2,772 million, 2003 A$1,984, 2002 A$2,579). The significant adjustments between AGAAP and US GAAP results primarily relate to premises and sites, superannuation expenses, a one-off change in estimate to the allowance for loan losses, hedging, debt instruments and effective yield adjustments.

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This excerpt taken from the WBK 20-F filed Nov 10, 2005.

Differences between Australian and US Generally Accepted Accounting Principles (GAAP) results

 

Our consolidated Financial Statements are prepared in accordance with accounting principles and policies as summarised in Note 1 to the Financial Statements.  These accounting principles and policies differ in some respects from US GAAP.  A reconciliation of net income, total assets, total liabilities and equity under US GAAP is included in Note 45 to the Financial Statements.

 

Consolidated net income under US GAAP for the year ended 30 September 2005 was A$2,813 million (2004 A$2,772 million, 2003 A$1,984 million).  The significant adjustments between Australian and US GAAP results primarily relate to premises and sites, goodwill amortisation, superannuation expenses, employee share option and share plan compensation, debt instruments and service fees.

 

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