Document ID: chunk:federal_register_of_legislation:F2021C00205:body:0:p24
Version: federal_register_of_legislation:F2021C00205
Segment Type: other
Provision Reference: 
Character Range: 61086–64012

to newly designated financial assets applying the overlay approach (see paragraph 35F(b));
(ii) the amount that would have been reclassified between profit or loss and other comprehensive income in the reporting period if the financial assets had not been de-designated (see paragraph 35I(a)); and
(iii) the amount reclassified in the reporting period to profit or loss from accumulated other comprehensive income for financial assets that have been de-designated (see paragraph 35J).
39M If an entity applied the overlay approach when accounting for its investment in an associate or joint venture using the equity method, the entity shall disclose the following, in addition to the information required by AASB 12:
(a) the information described by paragraphs 39K–39L for each associate or joint venture that is material to the entity. The amounts disclosed shall be those included in the Australian-Accounting-Standards financial statements of the associate or joint venture after reflecting any adjustments made by the entity when using the equity method (see paragraph B14(a) of AASB 12), rather than the entity's share of those amounts.
(b) the quantitative information described by paragraphs 39K–39L(d) and 39L(f), and the effect of the reclassification described in paragraph 35B on profit or loss and other comprehensive income in aggregate for all individually immaterial associates or joint ventures. The aggregate amounts:
(i) disclosed shall be the entity's share of those amounts; and
(ii) for associates shall be disclosed separately from the aggregate amounts disclosed for joint ventures.

Effective date and transition
40 The transitional provisions in paragraphs 41–45 apply both to an entity that is already applying IFRSs when it first applies this Standard and to an entity that applies Australian Accounting Standards for the first time (a first-time adopter).
41 An entity shall apply this Standard for annual periods beginning on or after 1 January 2018. Earlier application is encouraged for periods beginning after 24 July 2014 but before 1 January 2018. If an entity applies this Standard for an earlier period, it shall disclose that fact.
41A–
41B [Deleted by the AASB]
41C–
41D [Deleted]
41E [Deleted by the AASB]
41F [Deleted]
41G AASB 2014-5 Amendments to Australian Accounting Standards arising from AASB 15, issued in December 2014, amended the previous version of this Standard as follows: amended paragraphs 4(a) and (c), B7, B18(h) and B21. An entity shall apply those amendments when it applies AASB 15.
41H AASB 2010-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2010) (as amended), AASB 2014-1 Amendments to Australian Accounting Standards and AASB 2014-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2014) amended the previous version of this Standard as follows: amended paragraphs 3, 4, 7, 8, 12, 34, 35, 45, Appendix A