Document ID: chunk:federal_register_of_legislation:F2021L01793:reg:1
Version: federal_register_of_legislation:F2021L01793
Segment Type: reg
Provision Reference: reg 1
Character Range: 3935–4846

1                        This Standard amends:
          (a)                    AASB 1049 Whole of Government and General Government Sector Financial Reporting (October 2007);
          (b)                   AASB 1054 Australian Additional Disclosures (May 2011); and
          (c)                    AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities (March 2020);
to require entities to disclose their material accounting policy information rather than their significant accounting policies and to clarify that information about measurement bases for financial instruments is expected to be material to an entity's financial statements. These amendments reflect the issuance of AASB 2021-2 Amendments to Australian Accounting Standards – Disclosure of Accounting Policies and Definition of Accounting Estimates (March 2021).

Application