Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p71
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 190731–194013

An entity shall present each heading it expects to use in applying AASB 18 and the subtotals required by paragraphs 69–74 of that Standard, notwithstanding the requirements in paragraph 10 of AASB 134. An entity shall apply the requirements in paragraph 10 of AASB 134 for headings and subtotals in condensed financial statements after it has issued its first Australian-Accounting-Standards financial statements prepared in accordance with AASB 18.
(a) Each such interim financial report shall, if the entity presented an interim financial report for the comparable interim period ...
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Effective date
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39AI AASB 18 issued in June 2024 amended paragraphs 3, 4, 4A, 5, 22, 32, D30 and E2, amended Appendix A and added paragraph 32(za). An entity shall apply those amendments when it applies AASB 18.
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Appendix A
Defined terms
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IFRS Accounting Standards                            IFRS Accounting Standards are accounting standards Standards and Interpretations issued by the International Accounting Standards Board (IASB). They comprise:
International Financial Reporting Standards (IFRSs)  (a) International Financial Reporting Standards;
                                                     (b) International Accounting Standards;
                                                     (c) IFRIC Interpretations; and
                                                     (d) SIC Interpretations.(a)
                                                     IFRS Accounting Standards were previously known as International Financial Reporting Standards, IFRS, IFRSs and IFRS Standards.

  (a) Definition of IFRSs amended after the name changes introduced by the revised Constitution of the IFRS Foundation in 2010. Interpretations are identified in AASB 1048 Interpretation of Standards.
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Appendix D
Exemptions from other Australian Accounting Standards
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Severe hyperinflation
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D30 When the functional currency normalisation date falls within a 12‑month comparative period, the comparative period may be less than 12 months, provided that a complete set of financial statements (as required by paragraph 10 of AASB 18AASB 101) is provided for that shorter period.
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Appendix E
Short‑term exemptions from Australian Accounting Standards

Exemption from the requirement to restate comparative information for AASB 9
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E2 An entity that chooses to present comparative information that does not comply with AASB 7 and the completed version of AASB 9 (issued in 2014) in its first year of transition shall:
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(d) apply paragraph 6C(c) of AASB 108 17(c) of AASB 101 to provide additional disclosures when compliance with the specific requirements in Australian Accounting Standards is insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entity's financial position and financial performance.

AASB 2 Share‑based Payment (July 2015)
A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors' in paragraph 59B. New text is underlined.

  4A When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.

A footnote is added to 'AASB 108