Document ID: chunk:federal_register_of_legislation:F2023C00383:reg:4:p24
Version: federal_register_of_legislation:F2023C00383
Segment Type: reg
Provision Reference: reg 4 (pt 24/25)
Character Range: 127777–130846

2023 but before 1 July 2026.  It takes into account amendments up to and including 15 December 2022 and was prepared on 6 April 2023 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB.  Instead, it is a representation of AASB 119 (August 2015) as amended by other Accounting Standards, which are listed in the table below.

Table of Standards
Standard     Date made    FRL identifier  Commence-ment date  Effective date          Application, saving or transitional provisions
                                                              (annual periods
                                                              … on or after …)
AASB 119     7 Aug 2015   F2015L01612     31 Dec 2015         (beginning) 1 Jan 2016  see (a) below
AASB 17      19 Jul 2017  F2017L01184     31 Dec 2022         (beginning) 1 Jan 2023  see (b) below
AASB 2018-2  23 Mar 2018  F2018L00460     31 Dec 2018         (beginning) 1 Jan 2019  see (c) below
AASB 2019-1  21 May 2019  F2019L00966     31 Dec 2019         (beginning) 1 Jan 2020  see (d) below
AASB 1060    6 Mar 2020   F2020L00288     30 Jun 2021         (beginning) 1 Jul 2021  see (e) below
AASB 2021-7  20 Dec 2021  F2021L01883     31 Dec 2021         (beginning) 1 Jan 2022  see (f) below
AASB 2022-8  15 Dec 2022  F2023L00014     31 Dec 2022         (beginning) 1 Jan 2023  see (g) below
AASB 2022-9  15 Dec 2022  F2023L00015     30 Jun 2026         (beginning) 1 Jul 2026  not compiled*

* The amendments made by this Standard are not included in this compilation, which presents the principal Standard as applicable to annual periods beginning on or after 1 January 2023 but before 1 July 2026.

   (a)           Entities may elect to apply this Standard to periods beginning on or after 1 January 2014 but before 1 January 2016.

   (b)           Entities may elect to apply this Standard to annual periods beginning before 1 January 2023, provided that AASB 9 Financial Instruments is also applied on or before the date of initial application of AASB 17.  (AASB 17 was amended prior to its mandatory application by various amending Standards, including AASB 2022-8 Amendments to Australian Accounting Standards – Insurance Contracts: Consequential Amendments, made by the AASB on 15 December 2022.)

   (c)           Entities may elect to apply this Standard to annual periods beginning before 1 January 2019.

   (d)           Entities may elect to apply this Standard to annual periods beginning before 1 January 2020.

   (e)           Entities may elect to apply this Standard to annual periods beginning before 1 July 2021.

   (f)            Entities may elect to apply this Standard to annual periods beginning before 1 January 2022.

   (g) Entities may elect to apply this Standard to annual periods beginning before 1 January 2023.

Table of amendments
Paragraph affected   How affected  By … [paragraph/page]
 AusCF1              added         AASB 2019-1 [page 20]
 3                   amended       AASB 2021-7 [32]
 8