Document ID: chunk:federal_register_of_legislation:F2025C00172:body:0:p50
Version: federal_register_of_legislation:F2025C00172
Segment Type: other
Provision Reference: 
Character Range: 128398–131282

information required by paragraph 28(f) of AASB 108 for the annual period immediately preceding the date of initial application of this Standard (the 'immediately preceding period'). An entity may also present this information for the current period or for earlier comparative periods, but is not required to do so.
C2B For the purposes of this Standard, the date of initial application is the beginning of the annual reporting period for which this Standard is applied for the first time.
C3 At the date of initial application, an entity is not required to make adjustments to the previous accounting for its involvement with either:
(a) entities that would be consolidated at that date in accordance with AASB 127 Consolidated and Separate Financial Statements and Interpretation 112 Consolidation—Special Purpose Entities and are still consolidated in accordance with this Standard; or
(b) entities that would not be consolidated at that date in accordance with AASB 127 and Interpretation 112 and are not consolidated in accordance with this Standard.
C3A At the date of initial application, an entity shall assess whether it is an investment entity on the basis of the facts and circumstances that exist at that date. If, at the date of initial application, an entity concludes that it is an investment entity, it shall apply the requirements of paragraphs C3B–C3F instead of paragraphs C5–C5A.
C3B Except for any subsidiary that is consolidated in accordance with paragraph 32 (to which paragraphs C3 and C6 or paragraphs C4–C4C, whichever is relevant, apply), an investment entity shall measure its investment in each subsidiary at fair value through profit or loss as if the requirements of this Standard had always been effective. The investment entity shall retrospectively adjust both the annual period that immediately precedes the date of initial application and equity at the beginning of the immediately preceding period for any difference between:
(a) the previous carrying amount of the subsidiary; and
(b) the fair value of the investment entity's investment in the subsidiary.
The cumulative amount of any fair value adjustments previously recognised in other comprehensive income shall be transferred to retained earnings at the beginning of the annual period immediately preceding the date of initial application.
C3C Before the date that AASB 13 Fair Value Measurement is adopted, an investment entity shall use the fair value amounts that were previously reported to investors or to management, if those amounts represent the amount for which the investment could have been exchanged between knowledgeable, willing parties in an arm's length transaction at the date of the valuation.
C3D If measuring an investment in a subsidiary in accordance with paragraphs C3B–C3C is impracticable (as defined in AASB 108), an investment entity shall apply the requirements