Document ID: chunk:federal_register_of_legislation:F2023C00190:reg:9:p2
Version: federal_register_of_legislation:F2023C00190
Segment Type: reg
Provision Reference: reg 9 (pt 2/2)
Character Range: 14591–17275

disclose the following about the material accounting policies applied in the special purpose financial statements, if not already required by another Australian Accounting Standard:
               (i) the measurement basis (or bases) applied in preparing the special purpose financial statements; and
               (ii) the other accounting policies applied that are relevant to an understanding of the special purpose financial statements;
          (c) when a change in a material accounting policy has an effect on the current period or any prior period, disclose the following, if not already required by another Australian Accounting Standard:
               (i) the nature of the change in accounting policy;
               (ii) the reasons why applying the new accounting policy provides reliable and more relevant information;
               (iii) to the extent practicable, the amount of the adjustment for each financial statement line item affected, shown separately:
                    (A) for the current period;
                    (B) for each prior period presented; and
                    (C) in the aggregate for periods before those presented; and
               (iv) an explanation if it is impracticable to determine the amounts to be disclosed under paragraph (iii).
               Financial statements of subsequent periods need not repeat these disclosures;
          (d) where the entity has interests in other entities – disclose whether or not its subsidiaries and investments in associates or joint ventures have been consolidated or equity accounted in a manner consistent with the requirements set out in AASB 10 Consolidated Financial Statements or AASB 128 Investments in Associates and Joint Ventures, as appropriate.  If the entity has not consolidated its subsidiaries or equity accounted its investments in associates or joint ventures consistently with those requirements, it shall also disclose the reasons why that is the case;
          (e) for each material accounting policy applied and disclosed in the financial statements that does not comply with all the recognition and measurement requirements in Australian Accounting Standards (except for AASB 10 and AASB 128), disclose an indication of how it does not comply; and
          (f) disclose whether or not the financial statements overall comply with all the recognition and measurement requirements in Australian Accounting Standards (except for AASB 10 and AASB 128).

     9D Implementation guidance and illustrative examples for certain for-profit private sector entities accompanies this Standard.  It illustrates the application of the requirements in paragraph 9C.

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