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Summary An increase in water demands, exacerbated by climate change and the tightening of environmental requirements, leads to a reduction in available water resources for economic uses. This situation poses challenges for water resource planning and management. Water accounting has emerged as an appropriate tool to improve transparency and control in water management. There are multiple water accounting approaches, but they generally involve a very exhaustive list of accounted concepts. According to our findings in this research, one of the best water accounting methodologies is the Australian Water Accounting Standard. However, its implementation for integrated water resource planning and management purposes calls into questioning the amount of information and level of detail necessary for the users of water accounts. In this paper, we present a different method of applying the Australian Water Accounting Standard in relation to water resource management, which improves its utility. In order to compare the original approach and that proposed here, we present and discuss an application to the Júcar Water Resource System, in eastern Spain. [ABSTRACT FROM AUTHOR]