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paragraphs AusCF1 – Aus110.2 and Appendix A.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  AASB 139 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application of Australian Accounting Standards.  In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.

Comparison with IAS 39
AASB 139 Financial Instruments: Recognition and Measurement as amended incorporates IAS 39 Financial Instruments: Recognition and Measurement as issued and amended by the International Accounting Standards Board (IASB).  Australian‑specific paragraphs (which are not included in IAS 39) are identified with the prefix "Aus".  Paragraphs that apply only to not-for-profit entities begin by identifying their limited applicability.

Tier 1
For-profit entities complying with AASB 139 also comply with IAS 39.
Not-for-profit entities' compliance with IAS 39 will depend on whether any "Aus" paragraphs that specifically apply to not-for-profit entities provide additional guidance or contain applicable requirements that are inconsistent with IAS 39.
AASB 1053 Application of Tiers of Australian Accounting Standards explains the two tiers of reporting requirements.

Accounting Standard AASB 139

The Australian Accounting Standards Board made Accounting Standard AASB 139 Financial Instruments: Recognition and Measurement under section 334 of the Corporations Act 2001 on 14 August 2015.

This compiled version of AASB 139 applies to annual periods beginning on or after 1 January 2021.  It incorporates relevant amendments contained in other AASB Standards made by the AASB up to and including 17 September 2020 (see Compilation Details).

Accounting Standard AASB 139

Financial Instruments: Recognition and Measurement
1 [Deleted]

Scope
          AusCF1 AusCF entities are:
               (a) not-for-profit entities; and
               (b) for-profit entities that are not applying the Conceptual Framework for Financial Reporting (as identified in AASB 1048 Interpretation of Standards).
          For AusCF entities, the term 'reporting entity' is defined in AASB 1057 Application of Australian Accounting Standards and Statement of Accounting Concepts SAC 1 Definition of the Reporting Entity also applies. For-profit entities applying the Conceptual Framework for Financial Reporting are set out in paragraph Aus1.1 of the Conceptual Framework.
2 This Standard shall be applied by all entities to all financial instruments within the scope of AASB 9 Financial Instruments if, and to the extent that:
(a) AASB 9 permits the hedge accounting requirements of this Standard to be applied; and
(b) the financial instrument is part of a hedging relationship that qualifies for hedge accounting in accordance with this Standard.
2A–
7 [Deleted]

Definitions
8 The terms defined in AASB 13, AASB 9 and AASB 132 are used in this Standard with the meanings specified