Document ID: chunk:federal_register_of_legislation:F2023C00381:reg:2
Version: federal_register_of_legislation:F2023C00381
Segment Type: reg
Provision Reference: reg 2
Character Range: 4363–5527

2                        This Standard applies to:
(a)                   each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act;
(b)                   general purpose financial statements of each not-for-profit reporting entity;
(c)                    each entity that elects to prepare financial statements that are, or are held out to be, general purpose financial statements;
(d)                   financial statements of General Government Sectors (GGSs) prepared in accordance with AASB 1049 Whole of Government and General Government Sector Financial Reporting;
(e)                    for-profit private sector entities that are required by legislation to prepare financial statements that comply with either Australian Accounting Standards or accounting standards; and
(f)                    other for-profit private sector entities that are required only by their constituting document or another document to prepare financial statements that comply with Australian Accounting Standards.

     3                        This Standard applies to annual periods beginning on or after 1 January 2016.