Document ID: chunk:federal_register_of_legislation:F2023C00187:body:0:p17
Version: federal_register_of_legislation:F2023C00187
Segment Type: other
Provision Reference: 
Character Range: 44095–45271

This Standard supersedes IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies, revised in 1993.
56 This Standard supersedes the following Interpretations:
(a) SIC-2 Consistency—Capitalisation of Borrowing Costs; and
(b) SIC-18 Consistency—Alternative Methods.

  [1]  [Aus]  The term 'Australian Accounting Standards' refers to Standards (including Interpretations) made by the AASB that apply to any reporting period beginning on or after 1 January 2005.  In this context, the term encompasses Australian Accounting Standards – Simplified Disclosures, which some entities are permitted to apply in accordance with AASB 1053 Application of Tiers of Australian Accounting Standards in preparing general purpose financial statements.
  [2]  Paragraph 54G explains how this requirement is amended for regulatory account balances.
    AusCF2 In December 2013 the AASB amended the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards).
  [3] The reference is to the Framework for the Preparation and Presentation of Financial Statements adopted by the AASB in 2004.