Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p79
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 212090–215014

and 26A. An entity shall apply those amendments when it applies AASB 18.

A footnote is added to 'AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors.' in paragraph 26A. New text is underlined.

  1 When it issued AASB 18 Presentation and Disclosure in Financial Statements in June 2024, the AASB changed the title of AASB 108 to Basis of Preparation of Financial Statements.

AASB 7 Financial Instruments: Disclosures (August 2015)
Paragraphs 3, 8, 20, 21, 24C, 24E, 24F, 24G, B5, B7 and B46 are amended. Paragraphs 19A–19B and their related subheading, and paragraph 44KK are added. New text is underlined and deleted text is struck through.

Scope
3 This Standard shall be applied by all entities to all types of financial instruments, except:
...
(f) instruments that are required to be classified as equity instruments in accordance with paragraphs 16A and 16B or paragraphs 16C and 16D of AASB 132. However, the disclosures required by paragraphs 19A–19B are required for such instruments.
 ...

Significance of financial instruments for financial position and performance
 ...

Statement of financial position

Categories of financial assets and financial liabilities
8 The carrying amounts of each of the following categories, as specified in AASB 9, shall either be presented disclosed either in the statement of financial position or disclosed in the notes:
 ...

Financial instruments classified as equity in accordance with paragraphs16A–16B or paragraphs 16C–16D of AASB 132
19A For puttable financial instruments classified as equity instruments in accordance with paragraphs 16A–16B of AASB 132, an entity shall disclose (to the extent not disclosed elsewhere):
(a) summary quantitative data about the amount classified as equity;
(b) its objectives, policies and processes for managing its obligation to repurchase or redeem the instruments when required to do so by the instrument holders, including any changes from the previous period;
(c) the expected cash outflow on redemption or repurchase of that class of financial instruments; and
(d) information about how the expected cash outflow on redemption or repurchase was determined.
19B If an entity has reclassified any of the following financial instruments between financial liabilities and equity, it shall disclose the amount reclassified into and out of each category (financial liabilities or equity), and the timing and reason for that reclassification:
(a) a puttable financial instrument classified as an equity instrument applying paragraphs 16A–16B of AASB 132; or
(b) an instrument that imposes on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and is classified as an equity instrument applying paragraphs 16C–16D of AASB 132.

Statement of comprehensive income

Items of income, expense, gains or losses
20 An entity shall either present,