Document ID: chunk:federal_register_of_legislation:F2024C00047:front:0:p29
Version: federal_register_of_legislation:F2024C00047
Segment Type: other
Provision Reference: 
Character Range: 75032–77841

42I In the reporting period that includes the date of initial application of AASB 9, the entity shall disclose the following information for each class of financial assets and financial liabilities as at the date of initial application:
(a) the original measurement category and carrying amount determined in accordance with AASB 139 or in accordance with a previous version of AASB 9 (if the entity's chosen approach to applying AASB 9 involves more than one date of initial application for different requirements);
(b) the new measurement category and carrying amount determined in accordance with AASB 9;
(c) the amount of any financial assets and financial liabilities in the statement of financial position that were previously designated as measured at fair value through profit or loss but are no longer so designated, distinguishing between those that AASB 9 requires an entity to reclassify and those that an entity elects to reclassify at the date of initial application.
In accordance with paragraph 7.2.2 of AASB 9, depending on the entity's chosen approach to applying AASB 9, the transition can involve more than one date of initial application. Therefore this paragraph may result in disclosure on more than one date of initial application. An entity shall present these quantitative disclosures in a table unless another format is more appropriate.
42J In the reporting period that includes the date of initial application of AASB 9, an entity shall disclose qualitative information to enable users to understand:
(a) how it applied the classification requirements in AASB 9 to those financial assets whose classification has changed as a result of applying AASB 9.
(b) the reasons for any designation or de-designation of financial assets or financial liabilities as measured at fair value through profit or loss at the date of initial application.
In accordance with paragraph 7.2.2 of AASB 9, depending on the entity's chosen approach to applying AASB 9, the transition can involve more than one date of initial application. Therefore this paragraph may result in disclosure on more than one date of initial application.
42K In the reporting period that an entity first applies the classification and measurement requirements for financial assets in AASB 9 (ie when the entity transitions from AASB 139 to AASB 9 for financial assets), it shall present the disclosures set out in paragraphs 42L–42O of this Standard as required by paragraph 7.2.15 of AASB 9.
42L When required by paragraph 42K, an entity shall disclose the changes in the classifications of financial assets and financial liabilities as at the date of initial application of AASB 9, showing separately:
(a) the changes in the carrying amounts on the basis of their measurement categories in accordance with AASB 139 (ie not