Document ID: chunk:federal_register_of_legislation:F2024C00047:front:0:p21
Version: federal_register_of_legislation:F2024C00047
Segment Type: other
Provision Reference: 
Character Range: 53528–56480

on the same terms as the financial statements and at the same time. Without the information incorporated by cross-reference, the financial statements are incomplete.
35D To meet the objectives in paragraph 35B, an entity shall (except as otherwise specified) consider how much detail to disclose, how much emphasis to place on different aspects of the disclosure requirements, the appropriate level of aggregation or disaggregation, and whether users of financial statements need additional explanations to evaluate the quantitative information disclosed.
35E If the disclosures provided in accordance with paragraphs 35F–35N are insufficient to meet the objectives in paragraph 35B, an entity shall disclose additional information that is necessary to meet those objectives.

The credit risk management practices
35F An entity shall explain its credit risk management practices and how they relate to the recognition and measurement of expected credit losses. To meet this objective an entity shall disclose information that enables users of financial statements to understand and evaluate:
(a) how an entity determined whether the credit risk of financial instruments has increased significantly since initial recognition, including, if and how:
(i) financial instruments are considered to have low credit risk in accordance with paragraph 5.5.10 of AASB 9, including the classes of financial instruments to which it applies; and
(ii) the presumption in paragraph 5.5.11 of AASB 9, that there have been significant increases in credit risk since initial recognition when financial assets are more than 30 days past due, has been rebutted;
(b) an entity's definitions of default, including the reasons for selecting those definitions;
(c) how the instruments were grouped if expected credit losses were measured on a collective basis;
(d) how an entity determined that financial assets are credit-impaired financial assets;
(e) an entity's write-off policy, including the indicators that there is no reasonable expectation of recovery and information about the policy for financial assets that are written-off but are still subject to enforcement activity; and
(f) how the requirements in paragraph 5.5.12 of AASB 9 for the modification of contractual cash flows of financial assets have been applied, including how an entity:
(i) determines whether the credit risk on a financial asset that has been modified while the loss allowance was measured at an amount equal to lifetime expected credit losses, has improved to the extent that the loss allowance reverts to being measured at an amount equal to 12-month expected credit losses in accordance with paragraph 5.5.5 of AASB 9; and
(ii) monitors the extent to which the loss allowance on financial assets meeting the criteria in (i) is subsequently remeasured at an amount equal to lifetime expected credit losses in accordance with paragraph 5.5.3 of AASB 9.
35G An entity shall explain the inputs,