Document ID: chunk:federal_register_of_legislation:F2021C00855:body:0:p7
Version: federal_register_of_legislation:F2021C00855
Segment Type: other
Provision Reference: 
Character Range: 16356–19234

of assets as held for sale in accordance with AASB 5 Non-current Assets Held for Sale and Discontinued Operations, other disposals of assets, or expropriation of major assets by government;
(d) the destruction of a major production plant by a fire after the reporting period;
(e) announcing, or commencing the implementation of, a major restructuring (see AASB 137);
(f) major ordinary share transactions and potential ordinary share transactions after the reporting period (AASB 133 Earnings per Share requires an entity to disclose a description of such transactions, other than when such transactions involve capitalisation or bonus issues, share splits or reverse share splits all of which are required to be adjusted under AASB 133);
(g) abnormally large changes after the reporting period in asset prices or foreign exchange rates;
(h) changes in tax rates or tax laws enacted or announced after the reporting period that have a significant effect on current and deferred tax assets and liabilities (see AASB 112 Income Taxes);
(i) entering into significant commitments or contingent liabilities, for example, by issuing significant guarantees; and
(j) commencing major litigation arising solely out of events that occurred after the reporting period.

Effective date
23 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 a period beginning before 1 January 2018, it shall disclose that fact.
23A [Deleted by the AASB]
23B AASB 2014-7 Amendments to Australian Accounting Standards arising from AASB 9 (December 2014) issued in December 2014 amended paragraph 9 in the previous version of this Standard. An entity shall apply that amendment when it applies AASB 9.

     23C AASB 2018-7 Amendments to Australian Accounting Standards – Definition of Material, issued in December 2018, amended paragraph 21. An entity shall apply those amendments prospectively for annual periods beginning on or after 1 January 2020. Earlier application is permitted. If an entity applies those amendments for an earlier period, it shall disclose that fact. An entity shall apply those amendments when it applies the amendments to the definition of material in paragraph 7 of AASB 101 and paragraphs 5 and 6 of AASB 108.

Withdrawal of IAS 10 (revised 1999)
24 [Deleted by the AASB]

Commencement of the legislative instrument
Aus24.1 [Repealed]

Withdrawal of AASB pronouncements
Aus24.2 This Standard repeals AASB 110 Events after the Reporting Period issued in July 2004.  Despite the repeal, after the time this Standard starts to apply under section 334 of the Corporations Act (either generally or in relation to an individual entity), the repealed Standard continues to apply in relation to any period